New York State Common Retirement Fund Reduces Position in ACI Worldwide, Inc. (NASDAQ:ACIW)

New York State Common Retirement Fund decreased its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW) by 9.8% in the fourth quarter, HoldingsChannel reports. The fund owned 518,182 shares of the technology company’s stock after selling 56,145 shares during the quarter. New York State Common Retirement Fund’s holdings in ACI Worldwide were worth $26,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ACIW. Pacer Advisors Inc. lifted its position in ACI Worldwide by 3.2% during the fourth quarter. Pacer Advisors Inc. now owns 7,763 shares of the technology company’s stock valued at $403,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. raised its stake in shares of ACI Worldwide by 104.9% in the fourth quarter. Blue Trust Inc. now owns 582 shares of the technology company’s stock worth $30,000 after buying an additional 298 shares during the period. Farther Finance Advisors LLC lifted its position in shares of ACI Worldwide by 177.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock valued at $26,000 after buying an additional 321 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of ACI Worldwide by 24.0% during the 4th quarter. GAMMA Investing LLC now owns 2,624 shares of the technology company’s stock valued at $136,000 after acquiring an additional 508 shares during the period. Finally, Savant Capital LLC increased its holdings in ACI Worldwide by 12.3% in the 4th quarter. Savant Capital LLC now owns 5,381 shares of the technology company’s stock worth $279,000 after acquiring an additional 590 shares in the last quarter. 94.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Abraham Kuruvilla sold 5,400 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 81,107 shares of the company’s stock, valued at approximately $4,518,470.97. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, DA Davidson downgraded shares of ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their price target for the company from $57.00 to $60.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.50.

ACI Worldwide Stock Performance

NASDAQ ACIW opened at $50.56 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.72. ACI Worldwide, Inc. has a twelve month low of $30.02 and a twelve month high of $59.71. The business has a 50-day moving average price of $52.80 and a 200-day moving average price of $51.79. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 23.96 and a beta of 1.20.

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.