Point72 Hong Kong Ltd Makes New $901,000 Investment in ACI Worldwide, Inc. (NASDAQ:ACIW)

Point72 Hong Kong Ltd purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,692 shares of the technology company’s stock, valued at approximately $901,000.

A number of other hedge funds have also modified their holdings of ACIW. Hood River Capital Management LLC grew its stake in shares of ACI Worldwide by 44.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock valued at $95,029,000 after buying an additional 743,595 shares in the last quarter. Reinhart Partners LLC. lifted its stake in ACI Worldwide by 0.8% in the second quarter. Reinhart Partners LLC. now owns 2,287,849 shares of the technology company’s stock valued at $90,576,000 after acquiring an additional 18,229 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ACI Worldwide by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock worth $70,737,000 after acquiring an additional 33,408 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of ACI Worldwide by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company’s stock worth $37,608,000 after purchasing an additional 56,113 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of ACI Worldwide by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 896,634 shares of the technology company’s stock valued at $35,498,000 after purchasing an additional 10,568 shares in the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ACI Worldwide Stock Up 0.3 %

ACIW stock opened at $56.82 on Monday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 26.93 and a beta of 1.19. The company has a 50-day moving average of $52.58 and a two-hundred day moving average of $45.70. ACI Worldwide, Inc. has a 52-week low of $26.43 and a 52-week high of $59.71. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.56 and a quick ratio of 1.56.

Insiders Place Their Bets

In other ACI Worldwide news, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 43,272 shares of the company’s stock, valued at $2,478,620.16. This represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.