JPMorgan Chase & Co. Grows Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

JPMorgan Chase & Co. raised its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 258,010 shares of the technology company’s stock after acquiring an additional 8,914 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of ACI Worldwide worth $13,133,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of ACI Worldwide by 1.3% during the third quarter. State Street Corp now owns 4,455,864 shares of the technology company’s stock worth $226,803,000 after purchasing an additional 56,919 shares during the last quarter. Geode Capital Management LLC raised its position in ACI Worldwide by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company’s stock worth $127,407,000 after buying an additional 31,561 shares during the last quarter. Hood River Capital Management LLC raised its position in ACI Worldwide by 44.9% during the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock worth $95,029,000 after buying an additional 743,595 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ACI Worldwide by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock worth $70,737,000 after acquiring an additional 33,408 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of ACI Worldwide by 144.1% in the third quarter. Assenagon Asset Management S.A. now owns 482,740 shares of the technology company’s stock valued at $24,571,000 after acquiring an additional 285,001 shares in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACIW has been the subject of a number of recent analyst reports. DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and raised their price objective for the company from $57.00 to $60.00 in a research report on Friday, November 8th. Stephens downgraded ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.50.

ACI Worldwide Trading Down 1.5 %

Shares of ACIW opened at $51.34 on Friday. ACI Worldwide, Inc. has a twelve month low of $28.79 and a twelve month high of $59.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.39 billion, a P/E ratio of 24.33 and a beta of 1.21. The firm’s 50-day moving average is $54.35 and its two-hundred day moving average is $49.38.

Insider Buying and Selling

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

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.