ACI Worldwide (NASDAQ:ACIW) Issues Earnings Results, Beats Expectations By $0.37 EPS

ACI Worldwide (NASDAQ:ACIW) announced its quarterly earnings data on Thursday. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.37, reports. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. The firm had revenue of $451.75 million during the quarter, compared to analysts’ expectations of $404.80 million. ACI Worldwide updated its FY 2024 guidance to EPS.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $58.01 on Friday. The firm has a market cap of $6.07 billion, a P/E ratio of 34.33 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $50.31 and its 200-day moving average is $43.40. ACI Worldwide has a 12-month low of $24.76 and a 12-month high of $59.60.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACIW shares. DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their price target for the company from $57.00 to $60.00 in a research report on Friday. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Canaccord Genuity Group boosted their price objective on ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ACI Worldwide has a consensus rating of “Moderate Buy” and an average target price of $49.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACIW. Farther Finance Advisors LLC grew its position in ACI Worldwide by 177.3% in the third quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $26,000 after acquiring an additional 321 shares in the last quarter. Fifth Third Bancorp lifted its position in ACI Worldwide by 123.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after acquiring an additional 624 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ACI Worldwide by 49.3% during the second quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after purchasing an additional 431 shares during the last quarter. CWM LLC boosted its position in shares of ACI Worldwide by 638.5% in 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. Finally, nVerses Capital LLC purchased a new stake in shares of ACI Worldwide in the 3rd quarter worth approximately $112,000. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

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.