Franklin Resources Inc. Sells 1,766,831 Shares of ACI Worldwide, Inc. (NASDAQ:ACIW)

Franklin Resources Inc. reduced its stake in ACI Worldwide, Inc. (NASDAQ:ACIW) by 27.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,684,084 shares of the technology company’s stock after selling 1,766,831 shares during the period. Franklin Resources Inc. owned approximately 4.47% of ACI Worldwide worth $246,664,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of ACI Worldwide by 1.3% in the third quarter. State Street Corp now owns 4,455,864 shares of the technology company’s stock valued at $226,803,000 after purchasing an additional 56,919 shares in the last quarter. Geode Capital Management LLC lifted its position in ACI Worldwide by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,502,628 shares of the technology company’s stock valued at $127,407,000 after purchasing an additional 31,561 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of ACI Worldwide by 44.9% in the 2nd quarter. Hood River Capital Management LLC now owns 2,400,340 shares of the technology company’s stock worth $95,029,000 after buying an additional 743,595 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of ACI Worldwide by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,389,734 shares of the technology company’s stock worth $70,737,000 after buying an additional 33,408 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ACI Worldwide by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,944 shares of the technology company’s stock valued at $37,608,000 after buying an additional 56,113 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.

ACI Worldwide Stock Down 1.1 %

NASDAQ:ACIW opened at $54.01 on Friday. 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 twelve month low of $28.79 and a twelve month high of $59.71. The stock has a fifty day simple moving average of $53.58 and a 200-day simple moving average of $47.03. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 25.60 and a beta of 1.19.

Insiders Place Their Bets

In other news, CTO Abraham Kuruvilla sold 5,400 shares of ACI Worldwide stock in a transaction on Friday, December 6th. The stock was 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 owns 81,107 shares of the company’s stock, valued at $4,518,470.97. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Adalio T. Sanchez sold 1,200 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.28, for a total transaction of $68,736.00. Following the completion of the sale, the director now directly owns 43,272 shares in the company, valued at approximately $2,478,620.16. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ACIW has been the subject of several recent research reports. DA Davidson lowered ACI Worldwide from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $57.00 to $60.00 in a research report on Friday, November 8th. Stephens lowered ACI Worldwide from an “overweight” rating to an “equal weight” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, ACI Worldwide presently has an average rating of “Hold” and an average target price of $49.50.

ACI Worldwide Company 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.