Bank of Montreal Can Has $2.89 Million Stake in ACI Worldwide Inc (NASDAQ:ACIW)

Bank of Montreal Can boosted its stake in ACI Worldwide Inc (NASDAQ:ACIW) by 11.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,018 shares of the technology company’s stock after buying an additional 8,824 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of ACI Worldwide worth $2,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its position in ACI Worldwide by 1.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,470 shares of the technology company’s stock valued at $737,000 after buying an additional 330 shares during the last quarter. Aperio Group LLC raised its position in ACI Worldwide by 1.2% in the 2nd quarter. Aperio Group LLC now owns 35,634 shares of the technology company’s stock valued at $1,224,000 after buying an additional 413 shares during the last quarter. FDx Advisors Inc. raised its position in ACI Worldwide by 7.3% in the 2nd quarter. FDx Advisors Inc. now owns 7,850 shares of the technology company’s stock valued at $270,000 after buying an additional 532 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in ACI Worldwide by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 46,633 shares of the technology company’s stock valued at $1,601,000 after buying an additional 664 shares during the last quarter. Finally, Lisanti Capital Growth LLC raised its position in ACI Worldwide by 0.7% in the 2nd quarter. Lisanti Capital Growth LLC now owns 96,800 shares of the technology company’s stock valued at $3,324,000 after buying an additional 690 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised ACI Worldwide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 9th. BTIG Research assumed coverage on ACI Worldwide in a research report on Thursday. They issued a “buy” rating and a $40.00 price target for the company. ValuEngine raised ACI Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BidaskClub raised ACI Worldwide from a “sell” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $38.33.

Shares of ACI Worldwide stock opened at $32.90 on Friday. ACI Worldwide Inc has a 1 year low of $24.02 and a 1 year high of $35.86. The firm has a market cap of $3.73 billion, a PE ratio of 29.64 and a beta of 1.29. The stock has a fifty day moving average price of $30.43 and a 200-day moving average price of $32.49. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.29 and a quick ratio of 1.29.

ACI Worldwide (NASDAQ:ACIW) last announced its earnings results on Thursday, August 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.24. ACI Worldwide had a return on equity of 10.14% and a net margin of 7.74%. The firm had revenue of $297.62 million during the quarter, compared to analyst estimates of $284.55 million. During the same period last year, the firm posted ($0.13) EPS. The business’s revenue was up 26.6% compared to the same quarter last year.

ACI Worldwide Profile

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.

Further Reading: Quick Ratio

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

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