Hood River Capital Management LLC Grows Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Hood River Capital Management LLC boosted its holdings in ACI Worldwide, Inc. (NASDAQ:ACIW) by 44.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,400,340 shares of the technology company’s stock after purchasing an additional 743,595 shares during the period. ACI Worldwide makes up 2.0% of Hood River Capital Management LLC’s portfolio, making the stock its 10th largest position. Hood River Capital Management LLC owned 2.29% of ACI Worldwide worth $95,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp increased its stake in shares of ACI Worldwide by 123.3% in the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock worth $45,000 after buying an additional 624 shares during the period. GAMMA Investing LLC increased 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 during the period. CWM LLC raised its stake in shares of ACI Worldwide by 638.5% during the second quarter. CWM LLC now owns 1,322 shares of the technology company’s stock valued at $52,000 after acquiring an additional 1,143 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of ACI Worldwide during the second quarter worth about $154,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in ACI Worldwide during the 2nd quarter valued at about $166,000. 94.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACIW shares. Canaccord Genuity Group increased 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. DA Davidson boosted their price objective on shares of ACI Worldwide from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, ACI Worldwide has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

ACI Worldwide Stock Up 1.8 %

Shares of ACI Worldwide stock opened at $50.33 on Monday. ACI Worldwide, Inc. has a 1 year low of $19.56 and a 1 year high of $50.80. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 37.56 and a beta of 1.19. The company has a 50-day moving average of $46.43 and a 200 day moving average of $38.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.32.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.24. ACI Worldwide had a net margin of 12.01% and a return on equity of 19.18%. The firm had revenue of $373.48 million during the quarter, compared to analyst estimates of $349.95 million. As a group, sell-side analysts anticipate that ACI Worldwide, Inc. will post 1.96 earnings per share for the current fiscal year.

ACI Worldwide declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 13th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to purchase up to 8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

ACI Worldwide 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.