King Luther Capital Management Corp Has $19.75 Million Stake in ACI Worldwide, Inc. (ACIW)

King Luther Capital Management Corp lowered its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 5.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 923,330 shares of the technology company’s stock after selling 56,220 shares during the period. King Luther Capital Management Corp’s holdings in ACI Worldwide were worth $19,750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of ACI Worldwide by 23,372.8% in the first quarter. BlackRock Inc. now owns 11,990,869 shares of the technology company’s stock worth $256,485,000 after buying an additional 11,939,785 shares during the period. Norges Bank purchased a new stake in shares of ACI Worldwide during the fourth quarter worth about $36,059,000. Fred Alger Management Inc. purchased a new stake in shares of ACI Worldwide during the fourth quarter worth about $15,748,000. FMR LLC purchased a new stake in shares of ACI Worldwide during the first quarter worth about $15,401,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of ACI Worldwide during the fourth quarter worth about $9,383,000. 99.96% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for ACI Worldwide (NASDAQ:ACIW)

ACI Worldwide, Inc. (NASDAQ:ACIW) traded up 0.22% during mid-day trading on Monday, reaching $22.88. The company’s stock had a trading volume of 408,198 shares. ACI Worldwide, Inc. has a 12 month low of $15.11 and a 12 month high of $23.97. The firm has a market capitalization of $2.70 billion, a PE ratio of 69.12 and a beta of 1.38. The stock’s 50-day moving average is $22.70 and its 200-day moving average is $20.66.

ACI Worldwide (NASDAQ:ACIW) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.11. The business had revenue of $231.50 million during the quarter, compared to the consensus estimate of $217.24 million. ACI Worldwide had a return on equity of 7.34% and a net margin of 3.80%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, equities analysts anticipate that ACI Worldwide, Inc. will post $0.47 EPS for the current year.

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ACIW has been the subject of a number of research analyst reports. Zacks Investment Research cut ACI Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 31st. TheStreet raised ACI Worldwide from a “c+” rating to a “b” rating in a research report on Thursday, March 16th. ValuEngine raised ACI Worldwide from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. raised ACI Worldwide from an “underperform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Thursday, March 2nd. Finally, Avondale Partners cut ACI Worldwide from a “market outperform” rating to a “market perform” rating in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.33.

ACI Worldwide Company Profile

ACI Worldwide, Inc develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. Its products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ACIW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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