The Manufacturers Life Insurance Company Buys 1,540 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

The Manufacturers Life Insurance Company raised its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,412 shares of the technology company’s stock after acquiring an additional 1,540 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of ACI Worldwide worth $3,075,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 321 shares during the period. Fifth Third Bancorp grew its stake in ACI Worldwide by 123.3% during 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 in the last quarter. CWM LLC increased its holdings in ACI Worldwide by 638.5% in the 2nd quarter. CWM LLC now owns 1,322 shares of the technology company’s stock valued at $52,000 after buying an additional 1,143 shares during the period. GAMMA Investing LLC raised its position in shares of ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after buying an additional 431 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of ACI Worldwide during the 3rd quarter worth approximately $112,000. 94.74% of the stock is currently owned by institutional investors.

ACI Worldwide Price Performance

ACIW stock opened at $55.83 on Friday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 26.46 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50 day simple moving average of $53.21 and a 200 day simple moving average of $46.37. ACI Worldwide, Inc. has a 1 year low of $26.87 and a 1 year high of $59.71.

Insiders Place Their Bets

In related news, CTO Abraham Kuruvilla sold 5,400 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $55.71, for a total transaction of $300,834.00. Following the sale, the chief technology officer now owns 81,107 shares in the company, valued at $4,518,470.97. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Adalio T. Sanchez sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.28, for a total value of $68,736.00. Following the completion of the transaction, the director now directly owns 43,272 shares of the company’s stock, valued at approximately $2,478,620.16. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACIW. DA Davidson cut shares of ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $57.00 to $60.00 in a research note on Friday, November 8th. Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.50.

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.