ACI Worldwide Adds 6% On Announcing $250 Mln Share Buyback

(RTTNews) - Shares of payment solutions provider to financial institutions, ACI Worldwide, Inc. (ACIW) are up more than 6% Monday morning after it announced $250 million share repurchase program.

"This authorization is a clear expression of confidence by the Board in ACI's three-pillar strategy and long-term vision to be the global leader in real-time payments. We are targeting half of our free cash flow to share repurchases in the near term, consistent with our 2021 analyst day announcement," said Odilon Almeida, president and CEO, ACI Worldwide.

The new approval includes $38 million remaining under the company's existing share buyback authorization.

ACIW is at $31.63 currently. It has traded in the range of $28.39- $43.23 in the past 52 weeks.