Fred Alger Management LLC Sells 49,105 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Fred Alger Management LLC trimmed its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 35.7% in the third quarter, Holdings Channel.com reports. The fund owned 88,342 shares of the technology company’s stock after selling 49,105 shares during the quarter. Fred Alger Management LLC’s holdings in ACI Worldwide were worth $4,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACIW. Farther Finance Advisors LLC boosted its holdings in ACI Worldwide by 177.3% during the third quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Fifth Third Bancorp grew its position in ACI Worldwide by 123.3% in 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 period. GAMMA Investing LLC raised 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 worth $52,000 after acquiring an additional 431 shares in the last quarter. CWM LLC lifted its holdings in shares of 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 acquiring an additional 1,143 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of ACI Worldwide in the 3rd quarter valued at $112,000. 94.74% of the stock is owned by institutional investors.

ACI Worldwide Price Performance

Shares of ACIW stock opened at $56.82 on Friday. ACI Worldwide, Inc. has a 1 year low of $26.43 and a 1 year high of $59.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $52.58 and its 200-day moving average is $45.64. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 26.93 and a beta of 1.19.

Insider Buying and Selling at ACI Worldwide

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACIW. StockNews.com lowered shares of ACI Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Stephens downgraded ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. Finally, DA Davidson cut ACI Worldwide from a “buy” rating to a “neutral” rating and raised their price target for the company from $57.00 to $60.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.50.

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.