Assetmark Inc. Reduces Stock Holdings in ACI Worldwide, Inc. (NASDAQ:ACIW)

Assetmark Inc. reduced its stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 19.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,538 shares of the technology company’s stock after selling 6,833 shares during the quarter. Assetmark Inc.’s holdings in ACI Worldwide were worth $1,561,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ACIW. Hohimer Wealth Management LLC grew its stake in ACI Worldwide by 4.1% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,962 shares of the technology company’s stock valued at $271,000 after purchasing an additional 197 shares in the last quarter. Snowden Capital Advisors LLC grew its stake in ACI Worldwide by 3.2% during the 4th quarter. Snowden Capital Advisors LLC now owns 8,048 shares of the technology company’s stock valued at $418,000 after purchasing an additional 246 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in ACI Worldwide by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,034 shares of the technology company’s stock valued at $573,000 after purchasing an additional 350 shares in the last quarter. Cetera Investment Advisers grew its position in shares of ACI Worldwide by 6.7% in the 1st quarter. Cetera Investment Advisers now owns 6,531 shares of the technology company’s stock worth $357,000 after acquiring an additional 408 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of ACI Worldwide by 239.4% in the 4th quarter. Covestor Ltd now owns 594 shares of the technology company’s stock worth $31,000 after acquiring an additional 419 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

ACI Worldwide Trading Up 0.2%

NASDAQ:ACIW opened at $43.71 on Thursday. ACI Worldwide, Inc. has a 12-month low of $41.79 and a 12-month high of $59.71. The firm has a market capitalization of $4.59 billion, a P/E ratio of 17.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $45.63 and a 200 day simple moving average of $50.07.

ACI Worldwide (NASDAQ:ACIW) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.18. ACI Worldwide had a return on equity of 20.94% and a net margin of 16.12%. The business had revenue of $394.57 million during the quarter, compared to analyst estimates of $364.36 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts predict that ACI Worldwide, Inc. will post 2 EPS for the current year.

Analyst Ratings Changes

ACIW has been the subject of several research reports. Wall Street Zen upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. DA Davidson upgraded ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, May 12th. Stephens upgraded ACI Worldwide from an “equal weight” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Thursday, July 17th. Finally, Jefferies Financial Group decreased their target price on ACI Worldwide from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.00.

Insider Buying and Selling at ACI Worldwide

In other ACI Worldwide news, Director Mary P. Harman sold 7,194 shares of ACI Worldwide stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $47.48, for a total transaction of $341,571.12. Following the sale, the director owned 34,388 shares of the company’s stock, valued at $1,632,742.24. The trade was a 17.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas W. Warsop III bought 5,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $48.57 per share, for a total transaction of $242,850.00. Following the purchase, the chief executive officer directly owned 326,922 shares in the company, valued at $15,878,601.54. This represents a 1.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% 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.