Zacks Investment Research Upgrades ACI Worldwide, Inc. (ACIW) to Strong-Buy
ACI Worldwide, Inc. (NASDAQ:ACIW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, July 31st. The brokerage presently has a $27.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 26.35% from the company’s previous close.
According to Zacks, “Transaction Systems Architects, Inc. develops, markets, installs and supports a broad line of software products and services primarily focused on facilitating electronic payments and electronic commerce. The Company’s products are organized into four lines-of-business groups: Consumer Banking, Corporate Banking, Retail Solutions and System Solutions. “
ACIW has been the topic of a number of other research reports. ValuEngine raised ACI Worldwide from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised ACI Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, TheStreet lowered ACI Worldwide from a “b” rating to a “c+” rating in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. ACI Worldwide presently has an average rating of “Buy” and an average target price of $25.33.
ACI Worldwide (NASDAQ ACIW) traded up 0.33% during trading on Monday, reaching $21.37. The company had a trading volume of 237,711 shares. ACI Worldwide has a 12 month low of $15.11 and a 12 month high of $24.65. The stock has a 50 day moving average of $22.87 and a 200-day moving average of $21.91. The company has a market capitalization of $2.53 billion, a P/E ratio of 98.94 and a beta of 1.32.
ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.11. The business had revenue of $240.60 million for the quarter, compared to analyst estimates of $225.87 million. ACI Worldwide had a return on equity of 8.92% and a net margin of 2.47%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) EPS. Equities research analysts expect that ACI Worldwide will post $0.55 EPS for the current fiscal year.
In other ACI Worldwide news, Director John M. Shay, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $23.19, for a total value of $463,800.00. Following the sale, the director now owns 81,896 shares of the company’s stock, valued at approximately $1,899,168.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in ACIW. Brown Capital Management LLC raised its stake in ACI Worldwide by 1.7% in the first quarter. Brown Capital Management LLC now owns 14,009,471 shares of the technology company’s stock worth $299,663,000 after buying an additional 240,231 shares during the period. BlackRock Inc. raised its stake in ACI Worldwide by 0.4% in the second quarter. BlackRock Inc. now owns 12,035,561 shares of the technology company’s stock worth $269,235,000 after buying an additional 44,692 shares during the period. Vanguard Group Inc. raised its stake in ACI Worldwide by 1.7% in the second quarter. Vanguard Group Inc. now owns 9,780,252 shares of the technology company’s stock worth $218,784,000 after buying an additional 161,582 shares during the period. State Street Corp raised its stake in ACI Worldwide by 2.5% in the first quarter. State Street Corp now owns 3,744,710 shares of the technology company’s stock worth $80,100,000 after buying an additional 90,836 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in ACI Worldwide by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,896,885 shares of the technology company’s stock worth $64,804,000 after buying an additional 97,182 shares during the period.
About ACI Worldwide
ACI Worldwide, Inc develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. Its products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.
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