Granite Investment Partners LLC lifted its position in ACI Worldwide Inc (NASDAQ:ACIW) by 23.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 33,822 shares of the technology company’s stock after buying an additional 6,533 shares during the quarter. Granite Investment Partners LLC’s holdings in ACI Worldwide were worth $1,112,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of ACI Worldwide by 3.6% during the 1st quarter. BlackRock Inc. now owns 14,334,321 shares of the technology company’s stock worth $471,169,000 after acquiring an additional 498,609 shares during the period. Dimensional Fund Advisors LP boosted its stake in ACI Worldwide by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,101,413 shares of the technology company’s stock valued at $85,815,000 after purchasing an additional 73,304 shares during the period. Conestoga Capital Advisors LLC boosted its stake in ACI Worldwide by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,632,106 shares of the technology company’s stock valued at $86,517,000 after purchasing an additional 21,601 shares during the period. Artisan Partners Limited Partnership boosted its stake in ACI Worldwide by 0.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,248,860 shares of the technology company’s stock valued at $73,920,000 after purchasing an additional 17,665 shares during the period. Finally, Northern Trust Corp boosted its stake in ACI Worldwide by 1.7% in the 1st quarter. Northern Trust Corp now owns 1,925,848 shares of the technology company’s stock valued at $63,303,000 after purchasing an additional 31,292 shares during the period.
ACI Worldwide stock opened at $32.78 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.67. ACI Worldwide Inc has a 52 week low of $24.02 and a 52 week high of $35.86. The firm has a market cap of $3.65 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 4.23 and a beta of 1.24.
ACI Worldwide (NASDAQ:ACIW) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). ACI Worldwide had a return on equity of 8.39% and a net margin of 6.20%. The business had revenue of $205.90 million for the quarter, compared to analyst estimates of $213.05 million. During the same period last year, the firm posted ($0.17) EPS. ACI Worldwide’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts forecast that ACI Worldwide Inc will post 0.65 EPS for the current year.
Several analysts recently issued reports on the company. BidaskClub upgraded ACI Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Zacks Investment Research cut ACI Worldwide from a “buy” rating to a “hold” rating in a report on Friday, March 1st. TheStreet cut ACI Worldwide from an “a-” rating to a “c+” rating in a report on Thursday, May 9th. Finally, Stephens raised ACI Worldwide from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $38.00 in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.00.
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About ACI Worldwide
ACI Worldwide, Inc provides software products and services for facilitating electronic payments to banks, financial intermediaries, merchants, and corporates worldwide. It offers UP Retail Payments solution that enables banks to accept, authorize, route, and secure payment transactions; and ACI Card and Merchant Management solutions, including credit, debit, smart card, and prepaid card issuance and management, as well as merchant account management and settlement.
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