Is ACI Worldwide (ACIW) Still a Great Investment?

Weitz Investment Management, an investment management firm, published its “Hickory Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.31% was recorded by the fund in the third quarter of 2021, underperforming its Russell Midcap benchmark that delivered a -0.93% return. Year-to-date, the Fund has returned +12.93% compared to +15.16% for the index. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Weitz Investment Management Hickory Fund, in its Q3 2021 investor letter, mentioned ACI Worldwide, Inc. (NASDAQ: ACIW) and discussed its stance on the firm. ACI Worldwide, Inc. is a Miami, Florida-based payment systems company with a $3.7 billion market capitalization. ACIW delivered a -16.86% return since the beginning of the year, while its 12-month returns are down by -0.75%. The stock closed at $31.95 per share on November 22, 2021.

Here is what Weitz Investment Management Hickory Fund has to say about ACI Worldwide, Inc. in its Q3 2021 investor letter:

“Bank software provider ACI Worldwide saw its shares decline as expectations of an activist-investor-led sale of the company dissipated. We trimmed our position as the stock price rose in response to the sale speculation. Shares have now returned to their pre-activist-inspired levels.”

Photo by Scott Graham on Unsplash

Based on our calculations, ACI Worldwide, Inc. (NASDAQ: ACIW) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. ACIW was in 28 hedge fund portfolios at the end of the third quarter of 2021, compared to 26 funds in the previous quarter. ACI Worldwide, Inc. (NASDAQ: ACIW) delivered a 1.75% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.