Copper Rock Capital Partners LLC reduced its position in shares of ACI Worldwide Inc (NASDAQ:ACIW) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 653,963 shares of the technology company’s stock after selling 98,421 shares during the period. ACI Worldwide accounts for about 1.8% of Copper Rock Capital Partners LLC’s holdings, making the stock its 15th biggest position. Copper Rock Capital Partners LLC owned approximately 0.56% of ACI Worldwide worth $20,064,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in ACI Worldwide by 6.6% in the second quarter. Wells Fargo & Company MN now owns 988,537 shares of the technology company’s stock worth $33,947,000 after acquiring an additional 61,145 shares during the period. Eagle Asset Management Inc. raised its position in ACI Worldwide by 11.3% in the second quarter. Eagle Asset Management Inc. now owns 259,084 shares of the technology company’s stock worth $8,896,000 after acquiring an additional 26,206 shares during the period. Bank of Montreal Can raised its position in ACI Worldwide by 11.7% in the second quarter. Bank of Montreal Can now owns 84,018 shares of the technology company’s stock worth $2,885,000 after acquiring an additional 8,824 shares during the period. ClariVest Asset Management LLC raised its position in ACI Worldwide by 7.8% in the second quarter. ClariVest Asset Management LLC now owns 336,856 shares of the technology company’s stock worth $11,569,000 after acquiring an additional 24,500 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in ACI Worldwide in the second quarter worth about $283,000. 99.67% of the stock is currently owned by institutional investors.
Shares of NASDAQ ACIW traded down $0.08 during midday trading on Thursday, hitting $30.60. The company’s stock had a trading volume of 101,232 shares, compared to its average volume of 782,415. The stock has a fifty day moving average price of $30.56 and a 200 day moving average price of $32.32. ACI Worldwide Inc has a one year low of $24.02 and a one year high of $35.86. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 27.57 and a beta of 1.29.
ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.24. ACI Worldwide had a net margin of 7.74% and a return on equity of 10.14%. The company had revenue of $297.62 million for the quarter, compared to analyst estimates of $284.55 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year.
Several brokerages have commented on ACIW. Zacks Investment Research raised shares of ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 9th. BTIG Research began coverage on shares of ACI Worldwide in a research report on Thursday, September 12th. They issued a “buy” rating and a $40.00 price objective on the stock. ValuEngine lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, BidaskClub raised shares of ACI Worldwide from a “sell” rating to a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $38.33.
About ACI Worldwide
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, financial 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: Special Dividends
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