Peapack Gladstone Financial Corp Acquires Shares of 4,327 ACI Worldwide, Inc. (NASDAQ:ACIW)

Peapack Gladstone Financial Corp acquired a new position in ACI Worldwide, Inc. (NASDAQ:ACIW) in the 3rd quarter, HoldingsChannel reports. The fund acquired 4,327 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACIW. State Street Corp increased its stake in ACI Worldwide by 1.3% in the 3rd quarter. State Street Corp now owns 4,455,864 shares of the technology company’s stock worth $226,803,000 after acquiring an additional 56,919 shares during the last quarter. Geode Capital Management LLC lifted its stake in ACI Worldwide by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company’s stock worth $127,407,000 after acquiring an additional 31,561 shares during the period. Hood River Capital Management LLC raised its stake in ACI Worldwide by 44.9% in the second quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock worth $95,029,000 after buying an additional 743,595 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ACI Worldwide by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock valued at $70,737,000 after purchasing an additional 33,408 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $37,608,000 after acquiring an additional 56,113 shares during the period. Institutional investors own 94.74% of the company’s stock.

ACI Worldwide Price Performance

NASDAQ ACIW opened at $54.89 on Tuesday. ACI Worldwide, Inc. has a 12-month low of $28.79 and a 12-month high of $59.71. The firm’s fifty day simple moving average is $53.67 and its two-hundred day simple moving average is $47.26. 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 has a market capitalization of $5.76 billion, a P/E ratio of 26.01 and a beta of 1.19.

Analysts Set New Price Targets

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

Insider Buying and Selling at ACI Worldwide

In related news, Director Adalio T. Sanchez sold 1,200 shares of the 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 completion of the transaction, the director now directly owns 43,272 shares of the company’s stock, valued at $2,478,620.16. This trade represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Abraham Kuruvilla sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $55.71, for a total transaction of $300,834.00. Following the sale, the chief technology officer now directly owns 81,107 shares in the company, valued at approximately $4,518,470.97. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.