Principal Financial Group Inc. Has $28.32 Million Stake in ACI Worldwide, Inc. (NASDAQ:ACIW)

Principal Financial Group Inc. boosted its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,506 shares of the technology company’s stock after buying an additional 20,893 shares during the quarter. Principal Financial Group Inc.’s holdings in ACI Worldwide were worth $28,317,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ACIW. Farther Finance Advisors LLC increased its position in ACI Worldwide by 177.3% during the third quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $26,000 after buying an additional 321 shares during the last quarter. Blue Trust Inc. grew its position in shares of ACI Worldwide by 104.9% in the fourth quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock valued at $30,000 after purchasing an additional 298 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of ACI Worldwide in the third quarter valued at about $118,000. GAMMA Investing LLC grew its position in shares of ACI Worldwide by 24.0% in the fourth quarter. GAMMA Investing LLC now owns 2,624 shares of the technology company’s stock valued at $136,000 after purchasing an additional 508 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of ACI Worldwide in the third quarter valued at about $204,000. 94.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson downgraded ACI Worldwide from a “buy” rating to a “neutral” rating and raised their price target for the company from $57.00 to $60.00 in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.50.

ACI Worldwide Stock Down 2.2 %

ACIW stock opened at $50.56 on Friday. ACI Worldwide, Inc. has a twelve month low of $30.02 and a twelve month high of $59.71. The company has a market cap of $5.30 billion, a PE ratio of 23.96 and a beta of 1.20. The business’s 50-day simple moving average is $52.80 and its 200 day simple moving average is $51.83. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72.

Insider Buying and Selling

In related news, CTO Abraham Kuruvilla sold 5,400 shares of ACI Worldwide stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.