Cim Investment Management Inc. Takes Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

Cim Investment Management Inc. bought a new position in ACI Worldwide, Inc. (NASDAQ:ACIW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,044 shares of the technology company’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently made changes to their positions in the company. CWM LLC lifted its position in ACI Worldwide by 638.5% during the second quarter. CWM LLC now owns 1,322 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,143 shares during the last quarter. Swedbank AB boosted its holdings in shares of ACI Worldwide by 228.6% in the 2nd quarter. Swedbank AB now owns 328,600 shares of the technology company’s stock worth $13,009,000 after purchasing an additional 228,600 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ACI Worldwide by 815.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 197,739 shares of the technology company’s stock valued at $7,828,000 after buying an additional 176,133 shares in the last quarter. Fifth Third Bancorp grew its position in ACI Worldwide by 123.3% during the second quarter. Fifth Third Bancorp now owns 1,130 shares of the technology company’s stock valued at $45,000 after acquiring an additional 624 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of ACI Worldwide by 6.3% during the second quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company’s stock worth $37,608,000 after acquiring an additional 56,113 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on ACIW shares. DA Davidson cut shares of ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $57.00 to $60.00 in a research report on Friday, November 8th. Stephens downgraded ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.50.

ACI Worldwide Trading Down 2.2 %

ACIW opened at $54.60 on Friday. The business has a 50 day moving average of $53.54 and a 200-day moving average of $46.82. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.73 billion, a PE ratio of 25.88 and a beta of 1.19. ACI Worldwide, Inc. has a 52 week low of $28.11 and a 52 week high of $59.71.

Insider Buying and Selling at ACI Worldwide

In related news, Director Adalio T. Sanchez sold 1,200 shares of ACI Worldwide stock in a transaction dated Wednesday, November 13th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Abraham Kuruvilla sold 5,400 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $55.71, for a total value of $300,834.00. Following the completion of the transaction, the chief technology officer now owns 81,107 shares in the company, valued at approximately $4,518,470.97. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

ACI Worldwide 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.