ACI Worldwide (NASDAQ:ACIW) Announces Quarterly Earnings Results, Beats Estimates By $0.37 EPS

ACI Worldwide (NASDAQ:ACIW) announced its quarterly earnings results on Thursday. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.37, reports. ACI Worldwide had a return on equity of 21.67% and a net margin of 14.04%. The business had revenue of $451.75 million for the quarter, compared to analysts’ expectations of $404.80 million. ACI Worldwide updated its FY 2024 guidance to EPS.

ACI Worldwide Stock Performance

ACI Worldwide stock opened at $58.01 on Friday. ACI Worldwide has a fifty-two week low of $24.76 and a fifty-two week high of $59.60. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 27.49 and a beta of 1.19. The stock’s 50 day simple moving average is $50.31 and its two-hundred day simple moving average is $43.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.32 and a current ratio of 1.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in ACI Worldwide by 177.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $26,000 after acquiring an additional 321 shares during the period. Cetera Trust Company N.A grew its stake in shares of ACI Worldwide by 7.9% in the 3rd quarter. Cetera Trust Company N.A now owns 4,780 shares of the technology company’s stock worth $243,000 after buying an additional 350 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ACI Worldwide by 49.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,306 shares of the technology company’s stock worth $52,000 after buying an additional 431 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in ACI Worldwide by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,872 shares of the technology company’s stock valued at $2,331,000 after buying an additional 469 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in ACI Worldwide by 7.3% during the first quarter. EntryPoint Capital LLC now owns 7,043 shares of the technology company’s stock valued at $234,000 after buying an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson downgraded 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 note on Friday. StockNews.com cut shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group increased their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stephens cut ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ACI Worldwide presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

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.