Needham & Company LLC Reaffirms “Hold” Rating for ACI Worldwide (NASDAQ:ACIW)

Needham & Company LLC reissued their hold rating on shares of ACI Worldwide (NASDAQ:ACIW) in a report issued on Wednesday morning, Benzinga reports.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group assumed coverage on ACI Worldwide in a report on Friday, March 8th. They set a buy rating and a $38.00 price target on the stock. TheStreet raised ACI Worldwide from a c rating to a b- rating in a report on Thursday, January 4th. Canaccord Genuity Group restated a buy rating and set a $40.00 price target on shares of ACI Worldwide in a research note on Friday, March 15th. Finally, DA Davidson reiterated a buy rating and issued a $39.00 price objective on shares of ACI Worldwide in a research note on Thursday, March 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $40.00.

ACI Worldwide Price Performance

NASDAQ ACIW opened at $35.12 on Wednesday. ACI Worldwide has a one year low of $19.56 and a one year high of $36.37. The stock has a 50-day moving average of $32.41 and a 200 day moving average of $29.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.37. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 26.21 and a beta of 1.20.

ACI Worldwide (NASDAQ:ACIW) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $476.43 million. ACI Worldwide had a net margin of 9.88% and a return on equity of 17.31%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. On average, sell-side analysts forecast that ACI Worldwide will post 1.83 EPS for the current year.

Institutional Trading of ACI Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of ACIW. Covestor Ltd lifted its position in shares of ACI Worldwide by 136.6% during the 3rd quarter. Covestor Ltd now owns 1,417 shares of the technology company’s stock valued at $32,000 after buying an additional 818 shares in the last quarter. Strs Ohio increased its holdings in ACI Worldwide by 142.9% in the 3rd quarter. Strs Ohio now owns 1,700 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in ACI Worldwide by 3.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 11,998 shares of the technology company’s stock worth $271,000 after acquiring an additional 444 shares during the period. Assetmark Inc. lifted its holdings in ACI Worldwide by 18.2% during the third quarter. Assetmark Inc. now owns 12,238 shares of the technology company’s stock valued at $276,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in ACI Worldwide in the 4th quarter worth approximately $296,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

ACI Worldwide Company 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.