Public Sector Pension Investment Board Sells 9,900 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Public Sector Pension Investment Board reduced its position in ACI Worldwide, Inc. (NASDAQ:ACIW) by 4.3% in the third quarter, HoldingsChannel.com reports. The firm owned 222,068 shares of the technology company’s stock after selling 9,900 shares during the period. Public Sector Pension Investment Board’s holdings in ACI Worldwide were worth $11,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACIW. O Shaughnessy Asset Management LLC boosted its position in shares of ACI Worldwide by 23.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,994 shares of the technology company’s stock worth $299,000 after purchasing an additional 1,709 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of ACI Worldwide by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 673,142 shares of the technology company’s stock worth $22,356,000 after purchasing an additional 3,983 shares during the period. Swedbank AB bought a new position in shares of ACI Worldwide in the first quarter worth approximately $3,321,000. DekaBank Deutsche Girozentrale boosted its position in shares of ACI Worldwide by 4.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 167,265 shares of the technology company’s stock worth $5,420,000 after acquiring an additional 6,609 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in ACI Worldwide by 49.3% during the second quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock valued at $52,000 after acquiring an additional 431 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. DA Davidson cut shares of ACI Worldwide from a “buy” rating to a “neutral” rating and raised their target price for the company from $57.00 to $60.00 in a research note on Friday, November 8th. Stephens cut shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, ACI Worldwide has a consensus rating of “Hold” and a consensus target price of $49.50.

ACI Worldwide Price Performance

ACIW stock opened at $56.66 on Friday. The company has a fifty day simple moving average of $52.30 and a two-hundred day simple moving average of $45.42. The firm has a market capitalization of $5.94 billion, a P/E ratio of 26.85 and a beta of 1.19. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. ACI Worldwide, Inc. has a 52 week low of $26.43 and a 52 week high of $59.71.

Insider Transactions at ACI Worldwide

In other news, Director Adalio T. Sanchez sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total value of $68,736.00. Following the completion of the sale, the director now owns 43,272 shares in the company, valued at approximately $2,478,620.16. This trade represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

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.