JPMorgan Chase & Co. lowered its stake in ACI Worldwide Inc (NASDAQ:ACIW) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,575 shares of the technology company’s stock after selling 4,192 shares during the quarter. JPMorgan Chase & Co. owned about 0.35% of ACI Worldwide worth $9,506,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ACIW. Riverhead Capital Management LLC increased its stake in ACI Worldwide by 62.0% during the second quarter. Riverhead Capital Management LLC now owns 6,157 shares of the technology company’s stock worth $138,000 after purchasing an additional 2,357 shares during the period. Oakbrook Investments LLC purchased a new stake in ACI Worldwide during the third quarter worth about $203,000. Strs Ohio increased its stake in ACI Worldwide by 17.3% during the second quarter. Strs Ohio now owns 9,500 shares of the technology company’s stock worth $212,000 after purchasing an additional 1,400 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in ACI Worldwide during the third quarter worth about $247,000. Finally, Tuttle Tactical Management LLC purchased a new stake in ACI Worldwide during the second quarter worth about $287,000.
In other news, Director James Mcgroddy sold 90,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $22.40, for a total value of $2,016,000.00. Following the completion of the sale, the director now owns 76,896 shares in the company, valued at $1,722,470.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Anthony M. Scotto, Jr. sold 30,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $22.97, for a total value of $689,100.00. The disclosure for this sale can be found here. Insiders sold 180,000 shares of company stock valued at $4,069,200 over the last three months. Corporate insiders own 4.20% of the company’s stock.
A number of analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of ACI Worldwide in a research note on Thursday, August 31st. They set a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research lowered shares of ACI Worldwide from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Finally, BidaskClub lowered shares of ACI Worldwide from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $26.00.
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ACI Worldwide 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.
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