Massachusetts Financial Services Co. MA Decreases Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Massachusetts Financial Services Co. MA lessened its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,078,128 shares of the technology company’s stock after selling 388,782 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.99% of ACI Worldwide worth $82,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in ACI Worldwide by 39.8% in the 4th quarter. Principal Financial Group Inc. now owns 601,632 shares of the technology company’s stock valued at $18,410,000 after acquiring an additional 171,258 shares during the last quarter. Brown Advisory Inc. bought a new position in ACI Worldwide in the 4th quarter valued at $600,000. Norges Bank bought a new position in ACI Worldwide in the 4th quarter valued at $37,509,000. Trexquant Investment LP bought a new position in ACI Worldwide in the 4th quarter valued at $3,998,000. Finally, Assetmark Inc. grew its position in ACI Worldwide by 38.8% in the 4th quarter. Assetmark Inc. now owns 16,989 shares of the technology company’s stock valued at $520,000 after acquiring an additional 4,751 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

ACI Worldwide Trading Up 0.4 %

Shares of NASDAQ ACIW opened at $49.16 on Thursday. 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 stock has a market capitalization of $5.15 billion, a P/E ratio of 36.69 and a beta of 1.19. ACI Worldwide, Inc. has a 1-year low of $19.56 and a 1-year high of $50.61. The business has a fifty day moving average price of $45.83 and a 200 day moving average price of $38.54.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.18% and a net margin of 12.01%. Equities research analysts expect that ACI Worldwide, Inc. will post 1.96 EPS for the current fiscal year.

ACI Worldwide announced that its Board of Directors has authorized a share repurchase program on Thursday, June 13th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on ACIW. Canaccord Genuity Group upped their price objective on ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a research report on Friday, August 2nd. DA Davidson increased their price target on ACI Worldwide from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, StockNews.com downgraded ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.