Cim Investment Management Inc. Buys New Shares in ACI Worldwide, Inc. (NASDAQ:ACIW)

Cim Investment Management Inc. purchased a new stake in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,044 shares of the technology company’s stock, valued at approximately $206,000.

A number of other large investors also recently added to or reduced their stakes in the business. Oliver Luxxe Assets LLC lifted its holdings in shares of ACI Worldwide by 98.5% in the third quarter. Oliver Luxxe Assets LLC now owns 33,078 shares of the technology company’s stock worth $1,684,000 after buying an additional 16,418 shares in the last quarter. Algert Global LLC boosted its stake in ACI Worldwide by 811.5% during the second quarter. Algert Global LLC now owns 155,507 shares of the technology company’s stock valued at $6,157,000 after buying an additional 138,447 shares during the last quarter. Sei Investments Co. grew its holdings in ACI Worldwide by 2.8% during the 2nd quarter. Sei Investments Co. now owns 427,936 shares of the technology company’s stock valued at $16,942,000 after buying an additional 11,638 shares in the last quarter. Verition Fund Management LLC increased its stake in ACI Worldwide by 86.5% in the 3rd quarter. Verition Fund Management LLC now owns 19,724 shares of the technology company’s stock worth $1,004,000 after acquiring an additional 9,149 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of ACI Worldwide during the 3rd quarter valued at approximately $1,248,000. 94.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACIW has been the topic of several analyst reports. DA Davidson cut ACI Worldwide from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $60.00 in a research note on Friday, November 8th. Stephens cut shares of ACI Worldwide from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, ACI Worldwide currently has a consensus rating of “Hold” and a consensus target price of $49.50.

ACI Worldwide Price Performance

ACIW opened at $54.60 on Friday. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 25.88 and a beta of 1.19. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.72. ACI Worldwide, Inc. has a 12-month low of $28.11 and a 12-month high of $59.71. The business’s fifty day simple moving average is $53.54 and its 200-day simple moving average is $46.82.

Insider Buying and Selling at ACI Worldwide

In other ACI Worldwide news, CTO Abraham Kuruvilla sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $55.71, for a total transaction of $300,834.00. Following the transaction, the chief technology officer now owns 81,107 shares in the company, valued at approximately $4,518,470.97. This represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adalio T. Sanchez sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total value of $68,736.00. Following the sale, the director now owns 43,272 shares in the company, valued at approximately $2,478,620.16. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

ACI Worldwide 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.