Magnetar Financial LLC Buys Shares of 13,417 ACI Worldwide, Inc. (NASDAQ:ACIW)

Magnetar Financial LLC bought a new position in ACI Worldwide, Inc. (NASDAQ:ACIW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,417 shares of the technology company’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 worth $45,000 after acquiring an additional 624 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $52,000 after purchasing an additional 431 shares during the period. CWM LLC grew its position in 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 purchasing an additional 1,143 shares in the last quarter. Innealta Capital LLC acquired a new position in ACI Worldwide in the 2nd quarter valued at approximately $154,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in ACI Worldwide in the 2nd quarter worth approximately $166,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ACIW shares. StockNews.com downgraded shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. DA Davidson upped their target price on ACI Worldwide from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price target on ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.50.

ACI Worldwide Price Performance

Shares of NASDAQ:ACIW opened at $50.20 on Wednesday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 37.46 and a beta of 1.19. The business has a 50-day moving average of $46.76 and a two-hundred day moving average of $39.18. ACI Worldwide, Inc. has a fifty-two week low of $19.56 and a fifty-two week high of $51.00. 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 posted its earnings results on Thursday, August 1st. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.24. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. The firm had revenue of $373.48 million during the quarter, compared to analyst estimates of $349.95 million. On average, equities research analysts predict that ACI Worldwide, Inc. will post 1.96 EPS for the current fiscal year.

ACI Worldwide declared that its Board of Directors has approved a stock repurchase program on Thursday, June 13th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.