ACI Worldwide (NASDAQ: ACIW) saw strong trading volume on Friday, with 531,509 shares traded. BlackRock, Franklin Resources, Alliancebernstein, State Street, and River Road Asset Management are the top five institutional investors and hedge funds who have recently increased or decreased their holdings in ACI Worldwide. These investors own 97.55% of the stock. ACI Worldwide, Inc. is a software development company that creates and markets products and solutions designed to facilitate real-time electronic payments. The company operates through two segments: ACI on Premise and ACI on Demand. The ACI on Premise segment serves customers who manage their software on site.
ACI Worldwide Reports Strong Trading Volume
ACI Worldwide, Inc. (NASDAQ: ACIW – Get Rating) experienced a strong trading volume on Friday, with 531,509 shares traded during mid-day trading. While this number is down by 40% from the previous session’s volume of 884,448, it still represents a significant amount of trading activity. The stock has a 50-day moving average of $26.63 and a 200-day moving average of $23.51. ACI Worldwide has a quick ratio of 1.30, a current ratio of 1.30, and a debt-to-equity ratio of 0.86. Its market capitalization is $2.91 billion, and it has a beta of 1.10.
Analyst Reports and Hedge Fund Interest
Several analysts have recently released reports on ACI Worldwide’s stock. DA Davidson increased their price target from $29.00 to $34.00, while Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price target. StockNews.com recently initiated coverage on the stock with a “hold” rating. Finally, Stephens raised their price target on ACI Worldwide shares from $27.00 to $31.00 and assigned an “overweight” rating. Two analysts have issued a hold rating, and two have assigned a buy rating to the company. The stock has an average rating of “Moderate Buy” and a consensus price target of $32.67.
In addition to analyst reports, hedge funds have also weighed in on ACI Worldwide. While the exact details of their trades are unknown, it is clear that these investors are paying attention to the company’s potential.
Institutional Investors and Hedge Funds Boost ACI Worldwide Stock
Institutional investors and hedge funds have recently increased or decreased their holdings in ACI Worldwide (NASDAQ: ACIW). BlackRock Inc. boosted its holdings in the technology company by 3.9% in the third quarter, purchasing an additional 549,177 shares and now owning a total of 14,744,451 shares valued at $308,157,000. Franklin Resources Inc. increased its holdings in ACI Worldwide by 26.1% in the fourth quarter, acquiring an additional 1,648,142 shares and now owning 7,974,554 shares valued at $183,415,000. Alliancebernstein L.P. also increased its holdings by 3.8% in the fourth quarter, acquiring an additional 235,858 shares and now owning 6,398,312 shares valued at $147,161,000. State Street Corp boosted its holdings by 1.9% in the first quarter, acquiring an additional 75,092 shares and now owning 4,026,192 shares valued at $126,785,000. River Road Asset Management LLC increased its holdings by 0.9% in the third quarter, acquiring an additional 36,459 shares and now owning 4,017,386 shares valued at $83,963,000. In total, 97.55% of the stock is owned by institutional investors and hedge funds.
About ACI Worldwide
ACI Worldwide, Inc. is a software development company that creates and markets products and solutions primarily designed to facilitate real-time electronic payments. The company operates through two segments: ACI on Premise and ACI on Demand. The ACI on Premise segment serves customers who manage their software on site.
Further Reading
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