ACI WORLDWIDE $57.16 (Nasdaq symbol ACIW; TSINetwork Rating: Speculative) (402-334-5101; www.tsainc.com; Shares outstanding: 38.5 million; Market cap: $2.2 billion; No dividends paid) makes software for processing transactions involving credit cards, debit cards, automated teller machines, point-of-sale terminals and interbank payments. Its products also help cut fraud.
In the quarter ended December 31, 2013, ACI’s revenue rose 26.4%, to $283.2 million from $224.1 million a year earlier. That’s mainly due to the contribution from Online Resources Corp., which ACI bought for $126.6 million early last year. Earnings per share rose 3.2%, to $1.30 from $1.26.
ACI has made a number of recent acquisitions: in February 2012, it bought S1 Corp. for $540 million. S1 sells transaction software for banks, credit unions, retailers and other payment processors. It also recently bought Official Payments Holdings for $109 million. Official Payments processes about 20 million payments totalling over $9 billion annually.
ACI’s long-term debt of $708.1 million is a reasonable 32% of its market cap. But the company’s goodwill and intangibles now stand at $906.9 million, or a high 41% of its market cap.
The company’s outlook is positive, but the stock trades at a high 23.8 times forecast 2014 earnings of $2.40 a share. Any problems with integrating its acquisitions could reduce that estimate significantly.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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