DA Davidson Increases ACI Worldwide (NASDAQ:ACIW) Price Target to $57.00

ACI Worldwide (NASDAQ:ACIW) had its target price raised by equities research analysts at DA Davidson from $52.00 to $57.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 7.77% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Canaccord Genuity Group boosted their price target on ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

ACI Worldwide Stock Performance

Shares of ACIW stock traded up $0.23 during midday trading on Tuesday, hitting $52.89. The company had a trading volume of 32,770 shares, compared to its average volume of 654,116. ACI Worldwide has a 52-week low of $19.56 and a 52-week high of $52.98. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50 day simple moving average is $48.97 and its 200 day simple moving average is $41.03. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 31.21 and a beta of 1.19.

ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.24. The firm had revenue of $373.48 million during the quarter, compared to analysts’ expectations of $349.95 million. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. Research analysts anticipate that ACI Worldwide will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of ACI Worldwide

Large investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in ACI Worldwide by 123.3% in the 2nd quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after buying an additional 624 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ACI Worldwide by 49.3% in the second 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 in the last quarter. CWM LLC increased its position in ACI Worldwide by 638.5% during the 2nd quarter. CWM LLC now owns 1,322 shares of the technology company’s stock worth $52,000 after purchasing an additional 1,143 shares in the last quarter. USA Financial Formulas acquired a new position in ACI Worldwide in the 3rd quarter valued at about $114,000. Finally, Innealta Capital LLC acquired a new position in ACI Worldwide in the 2nd quarter valued at about $154,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

About ACI Worldwide

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.