Pitcairn Co. Makes New $235,000 Investment in ACI Worldwide, Inc. (NASDAQ:ACIW)

Pitcairn Co. purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 4,609 shares of the technology company’s stock, valued at approximately $235,000.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in ACI Worldwide by 177.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $26,000 after purchasing an additional 321 shares during the period. Fifth Third Bancorp boosted its position in shares of ACI Worldwide by 123.3% during the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock worth $45,000 after buying an additional 624 shares during the period. CWM LLC grew its holdings in ACI Worldwide by 638.5% in the 2nd quarter. CWM LLC now owns 1,322 shares of the technology company’s stock worth $52,000 after buying an additional 1,143 shares in the last quarter. GAMMA Investing LLC increased its position in ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after acquiring an additional 431 shares during the period. Finally, nVerses Capital LLC acquired a new stake in ACI Worldwide in the 3rd quarter valued at approximately $112,000. Institutional investors and hedge funds own 94.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the sale, the director now owns 43,272 shares in the company, valued at approximately $2,478,620.16. This represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACIW has been the subject of several recent analyst reports. DA Davidson cut ACI Worldwide from a “buy” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $60.00 in a research note on Friday, November 8th. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Stephens downgraded shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group increased their price objective on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, ACI Worldwide presently has a consensus rating of “Hold” and an average target price of $49.50.

ACI Worldwide Stock Performance

Shares of ACIW opened at $56.66 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50 day moving average is $52.15 and its 200-day moving average is $45.34. ACI Worldwide, Inc. has a 12-month low of $26.43 and a 12-month high of $59.71. The stock has a market capitalization of $5.94 billion, a P/E ratio of 26.89 and a beta of 1.19.

ACI Worldwide Profile

ACI Worldwide, Inc, a software company, develops, markets, installs, and supports a range of software products and solutions for facilitating digital payments in the United States and internationally. The company operates in three segments: Banks, Merchants, and Billers. The company offers ACI Acquiring, a solution to process credit, debit, and prepaid card transactions, deliver digital innovation, and fraud prevention; ACI Issuing, a digital payment issuing solution for new payment offering; and ACI Enterprise Payments Platform that provides payment processing and orchestration capabilities for digital payments.