Zacks Investment Research cut shares of ACI Worldwide (NASDAQ:ACIW) from a buy rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,000 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as 300 of the leading global retailers rely on ACI to execute $14 trillion each day in payments. In addition, thousands of organizations utilize our electronic bill presentment and payment services. Through their comprehensive suite of software and SaaS-based solutions, they deliver real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience. “
Other equities analysts have also issued reports about the company. BidaskClub lowered ACI Worldwide from a strong-buy rating to a buy rating in a report on Saturday, June 23rd. ValuEngine raised ACI Worldwide from a hold rating to a buy rating in a report on Friday, June 15th. Finally, Credit Suisse Group increased their price objective on ACI Worldwide from $25.00 to $27.00 and gave the company a neutral rating in a report on Wednesday, September 12th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $29.00.
ACIW stock opened at $26.82 on Friday. The company has a market capitalization of $3.26 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.78 and a beta of 1.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.50 and a quick ratio of 1.50. ACI Worldwide has a 12-month low of $20.23 and a 12-month high of $28.98.
ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). ACI Worldwide had a net margin of 0.26% and a return on equity of 6.30%. The firm had revenue of $235.00 million for the quarter, compared to the consensus estimate of $232.23 million. During the same period last year, the company posted ($0.25) earnings per share. ACI Worldwide’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts anticipate that ACI Worldwide will post 0.62 earnings per share for the current fiscal year.
In other ACI Worldwide news, CEO Philip G. Heasley sold 4,100 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $28.00, for a total transaction of $114,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,318,050 shares of the company’s stock, valued at $36,905,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Adalio T. Sanchez sold 8,000 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $26.95, for a total value of $215,600.00. Following the transaction, the director now directly owns 41,897 shares of the company’s stock, valued at $1,129,124.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,767 shares of company stock valued at $937,076. 4.42% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen Prime Services LLC bought a new position in ACI Worldwide during the second quarter valued at $123,000. Horrell Capital Management Inc. purchased a new stake in shares of ACI Worldwide during the second quarter worth $129,000. First Republic Investment Management Inc. purchased a new stake in shares of ACI Worldwide during the second quarter worth $208,000. Eqis Capital Management Inc. purchased a new stake in shares of ACI Worldwide during the second quarter worth $325,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of ACI Worldwide during the second quarter worth $332,000.
About ACI Worldwide
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
Further Reading: Diversification
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