ACI Worldwide (NASDAQ:ACIW) Price Target Raised to $60.00 at Canaccord Genuity Group

ACI Worldwide (NASDAQ:ACIW) had its target price upped by Canaccord Genuity Group from $40.00 to $60.00 in a research note issued to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

ACIW has been the subject of several other research reports. Craig Hallum boosted their price objective on shares of ACI Worldwide from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, May 1st. StockNews.com raised shares of ACI Worldwide from a hold rating to a buy rating in a research note on Friday, July 26th. DA Davidson boosted their price objective on shares of ACI Worldwide from $36.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reaffirmed a hold rating on shares of ACI Worldwide in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $45.00.

ACI Worldwide Price Performance

ACIW opened at $43.55 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 32.50 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $38.85 and a 200-day moving average price of $34.74. ACI Worldwide has a twelve month low of $19.56 and a twelve month high of $48.80.

Insider Buying and Selling at ACI Worldwide

In related news, Director James C. Hale III sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $36.74, for a total transaction of $183,700.00. Following the completion of the sale, the director now directly owns 79,912 shares in the company, valued at approximately $2,935,966.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ACI Worldwide news, Director James C. Hale III sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $36.74, for a total transaction of $183,700.00. Following the transaction, the director now directly owns 79,912 shares of the company’s stock, valued at approximately $2,935,966.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James C. Hale III sold 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $35.52, for a total transaction of $355,200.00. Following the transaction, the director now directly owns 69,912 shares in the company, valued at $2,483,274.24. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACIW. NBC Securities Inc. grew its position in shares of ACI Worldwide by 1.8% in the 4th quarter. NBC Securities Inc. now owns 23,912 shares of the technology company’s stock worth $731,000 after buying an additional 412 shares during the period. GAMMA Investing LLC grew its position in ACI Worldwide by 49.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after purchasing an additional 431 shares during the last quarter. EntryPoint Capital LLC grew its position in ACI Worldwide by 7.3% during the 1st quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company’s stock valued at $234,000 after purchasing an additional 478 shares during the last quarter. Swiss National Bank grew its position in ACI Worldwide by 0.3% during the 1st quarter. Swiss National Bank now owns 214,600 shares of the technology company’s stock valued at $7,127,000 after purchasing an additional 600 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in ACI Worldwide by 123.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after purchasing an additional 624 shares during the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

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.