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

ACI Worldwide (NASDAQ:ACIW) issued its quarterly earnings data on Thursday. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.52 by $0.37, reports. The company had revenue of $451.75 million during the quarter, compared to analyst estimates of $404.80 million. ACI Worldwide had a return on equity of 19.18% and a net margin of 12.01%. ACI Worldwide updated its FY 2024 guidance to EPS.

ACI Worldwide Trading Down 2.0 %

Shares of ACIW stock opened at $58.01 on Friday. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 34.33 and a beta of 1.19. The stock’s 50-day moving average price is $50.31 and its 200-day moving average price is $43.40. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.79. ACI Worldwide has a 12-month low of $24.76 and a 12-month high of $59.60.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ACIW shares. Needham & Company LLC reiterated a “hold” rating on shares of ACI Worldwide in a research note on Friday, August 2nd. StockNews.com cut ACI Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Stephens cut ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 18th. Canaccord Genuity Group raised their target price on shares of ACI Worldwide from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, DA Davidson lowered shares of ACI Worldwide from a “buy” rating to a “neutral” rating and upped their price target for the stock from $57.00 to $60.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.50.

Institutional Trading of ACI Worldwide

Hedge funds have recently made changes to their positions in the business. Swedbank AB bought a new stake in ACI Worldwide in the first quarter worth $3,321,000. GSA Capital Partners LLP bought a new position in ACI Worldwide during the 1st quarter valued at about $846,000. CANADA LIFE ASSURANCE Co raised its position in ACI Worldwide by 26.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,169 shares of the technology company’s stock worth $3,623,000 after purchasing an additional 22,992 shares during the period. ClariVest Asset Management LLC lifted its stake in ACI Worldwide by 140.3% in the first quarter. ClariVest Asset Management LLC now owns 62,112 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 36,261 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its position in shares of ACI Worldwide by 9.3% during the first quarter. Global Alpha Capital Management Ltd. now owns 2,112,828 shares of the technology company’s stock valued at $70,167,000 after buying an additional 180,600 shares during the period. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

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.