BlackRock Fund Advisors recently announced the acquisition of new stake in ACI Worldwide Inc (NASDAQ:ACIW). The institutional investor has increased its shareholding in the Technology company by 0.24% to 12.08 million shares with purchase of 28830.0 shares. This fresh investment now brings its stake to 11.11% valued currently at $323.07 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.39 million to 11.68 million shares. And AllianceBernstein LP has lifted its position by 11.94% or 0.58 million shares – to 5.41 million shares.
With over 0.42 million ACI Worldwide Inc (ACIW) shares trading Friday and a closing price of $30.31 on the day, the dollar volume was approximately $12.84 million. The shares have shown a positive half year performance of 40.58% and its price on 12/22/23 gained nearly 0.73%. Currently, there are 108.07M common shares owned by the public and among those 107.31M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for ACIW have a consensus price objective of $31.60. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $26.00. The average price target is 4.08% above its recent price level and a downside to the estimated low will see the stock lose -16.58% over that period. But an upside of 10.85% will see the stock hit the forecast high price target while median target price for the stock is $33.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 286,391 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 68,768 shares.
The top 3 mutual fund holders in ACI Worldwide Inc are iShares Core S&P Small Cap ETF, Franklin Small Cap Value Fund, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 7.27 million shares of the company’s stock, all valued at over $194.31 million. The company bought an additional 3462.0 shares recently to bring their total holdings to about 6.68% of the shares outstanding. Franklin Small Cap Value Fund sold -0.6 million shares to see its total holdings shrink to 5.22 million shares valued at over $139.62 million and representing 4.80% of the shares outstanding. Vanguard Total Stock Market ETF bought 5145.0 shares to bring its total holdings to over 3.39 million shares at a value of $90.72 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.12% of the shares outstanding.
Shares of ACI Worldwide Inc (NASDAQ: ACIW) opened at $30.23, up $0.14 from a prior closing price of $30.09. However, the script later moved the day high at 30.43, up 0.73%. The company’s stock has a 5-day price change of 1.99% and 31.67% over the past three months. ACIW shares are trading 31.78% year to date (YTD), with the 12-month market performance up to 41.83% higher. It has a 12-month low price of $19.56 and touched a high of $30.91 over the same period. ACIW has an average intraday trading volume of 1.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.61%, 20.78%, and 25.61% respectively.
Institutional ownership of ACI Worldwide Inc (NASDAQ: ACIW) shares accounts for 97.52% of the company’s 108.07M shares outstanding. Mutual fund holders own 4.87%, while other institutional holders and individual stakeholders account for 60.26% and 37.52% respectively.
It has a market capitalization of $3.30B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 38.00, while the earnings-per-share (ttm) stands at $0.80. The company has a PEG of 3.17 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.58% over the week and 2.93% over the month.
Analysts forecast that ACI Worldwide Inc (ACIW) will achieve an EPS of $0.97 for the current quarter, -$0.1 for the next quarter and $1.31 for 2024. The lowest estimate earnings-per-share for the quarter is $0.92 while analysts give the company a high EPS estimate of $1.04. Comparatively, EPS for the current quarter was $0.81 a year ago. Earnings per share for the fiscal year are expected to decrease by -22.42%, and 33.47% over the next financial year. EPS should shrink at an annualized rate of 12.00% over the next five years, compared to 98.88% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate ACI Worldwide Inc (ACIW) as a “Strong Buy” at a consensus score of 1.33. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ACIW, a number of firms have released research notes about the stock. Seaport Research Partners stated their Buy rating for the stock in a research note on November 21, 2023, with the firm’s price target at $31.
