ACI Worldwide, Inc. (NASDAQ:ACIW) Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,358 shares of the technology company’s stock after selling 746 shares during the period. PNC Financial Services Group Inc.’s holdings in ACI Worldwide were worth $567,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its position in ACI Worldwide by 13.5% during the 4th quarter. LPL Financial LLC now owns 31,132 shares of the technology company’s stock valued at $1,616,000 after purchasing an additional 3,698 shares during the period. Envestnet Asset Management Inc. lifted its stake in ACI Worldwide by 21.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 214,278 shares of the technology company’s stock valued at $11,123,000 after buying an additional 37,584 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of ACI Worldwide by 1.0% during the fourth quarter. Russell Investments Group Ltd. now owns 72,703 shares of the technology company’s stock valued at $3,774,000 after acquiring an additional 719 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ACI Worldwide during the fourth quarter valued at $5,292,000. Finally, Covestor Ltd grew its position in shares of ACI Worldwide by 239.4% during the fourth quarter. Covestor Ltd now owns 594 shares of the technology company’s stock worth $31,000 after acquiring an additional 419 shares during the last quarter. 94.74% of the stock is owned by institutional investors.

ACI Worldwide Price Performance

Shares of ACIW opened at $46.34 on Wednesday. ACI Worldwide, Inc. has a one year low of $40.45 and a one year high of $59.71. The stock’s fifty day moving average is $45.05 and its 200-day moving average is $49.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 19.55 and a beta of 1.07.

ACI Worldwide (NASDAQ:ACIW) last released its earnings results on Thursday, August 7th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. ACI Worldwide had a net margin of 14.76% and a return on equity of 19.09%. The firm had revenue of $401.26 million for the quarter, compared to analysts’ expectations of $380.45 million. During the same quarter last year, the company earned $0.47 EPS. ACI Worldwide’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that ACI Worldwide, Inc. will post 2 EPS for the current year.

Insider Buying and Selling

In other news, Director Janet O. Estep sold 4,500 shares of ACI Worldwide stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $44.66, for a total transaction of $200,970.00. Following the transaction, the director directly owned 77,631 shares in the company, valued at approximately $3,467,000.46. This trade represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary P. Harman sold 7,194 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $47.48, for a total value of $341,571.12. Following the completion of the sale, the director owned 34,388 shares of the company’s stock, valued at approximately $1,632,742.24. This trade represents a 17.30% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ACIW shares. Wall Street Zen downgraded shares of ACI Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group dropped their price target on shares of ACI Worldwide from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, May 27th. DA Davidson raised ACI Worldwide from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Monday, May 12th. Finally, Stephens raised ACI Worldwide from an “equal weight” rating to an “overweight” rating and set a $60.00 price objective for the company in a report on Thursday, July 17th.

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.