ACI Worldwide develops broad line software that facilitates electronic payments. Its products are used by banks, payment processors, merchants, corporations, ATM machines, POS terminals, e-commerce websites, and other transaction endpoints. ACI Worldwide has a network spanning the entire world. Its customers are financial institutions. The growth in the non-cash market, as well as increasing digitization of payments, provides excellent long-term growth opportunities for ACI Worldwide. If you are looking for the best technology stock to buy now, then ACI Worldwide could be a potential candidate.
Background Info About ACI Worldwide
ACI Worldwide was founded in 1975 in Omaha, Nebraska. The original name of the company was Applied Communications, and its founders were James Cody, Dennis Gates, and Dave Willadsen. ACI Worldwide initially began operations developing software for applications used on Tandem Computers. The early projects of ACI revolved around ATM systems and the front-end of core banking systems. With time, ACI expanded into POS terminals and wholesale banking.
In 1995, ACI Worldwide went public and was traded on the NASDAQ. Today, the company’s product portfolio spans real-time payments, retail payments, merchant payments, bill payments, payments intelligence, and digital channels. The company also offers solutions that help clients manage risk and fraud. ACI Worldwide has offices in 34 countries and clocked revenues of $1.29 billion in 2020. If you are looking at the payments space for investment, then ACI Worldwide is among the best tech stocks to invest in.
When one talks about technology stocks, the first names that come to mind are Google, Microsoft, and Amazon. However, stocks like ACI Worldwide have performed reasonably well. Since the March 2020 market crash, ACI Worldwide has gained about 90%. The company does not pay a dividend at this time, and the stock closed around $40 on 12th March 2021. Over the last five years, ACIW’s stock has doubled.