Cadence Capital Management LLC reduced its stake in Accenture Plc (NYSE:ACN) by 5.3% during the first quarter, HoldingsChannel reports. The firm owned 2,998 shares of the information technology services provider’s stock after selling 169 shares during the quarter. Cadence Capital Management LLC’s holdings in Accenture were worth $528,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc raised its stake in Accenture by 1.5% during the third quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after acquiring an additional 770,904 shares in the last quarter. BKD Wealth Advisors LLC raised its stake in Accenture by 0.7% during the fourth quarter. BKD Wealth Advisors LLC now owns 23,865 shares of the information technology services provider’s stock worth $3,365,000 after acquiring an additional 164 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new position in Accenture during the fourth quarter worth $2,685,000. Bell Asset Management Ltd raised its stake in Accenture by 31.7% during the fourth quarter. Bell Asset Management Ltd now owns 44,656 shares of the information technology services provider’s stock worth $6,297,000 after acquiring an additional 10,738 shares in the last quarter. Finally, Rossmore Private Capital raised its stake in Accenture by 8.9% during the fourth quarter. Rossmore Private Capital now owns 4,910 shares of the information technology services provider’s stock worth $692,000 after acquiring an additional 400 shares in the last quarter. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ACN stock opened at $180.39 on Thursday. The stock has a market capitalization of $120.78 billion, a P/E ratio of 26.76, a PEG ratio of 2.36 and a beta of 1.12. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $183.35.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.16. The firm had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.30 billion. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. Analysts anticipate that Accenture Plc will post 7.31 EPS for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a $1.46 dividend. The ex-dividend date was Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s payout ratio is 43.32%.
In other Accenture news, insider Ellyn Shook sold 2,343 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $175.83, for a total transaction of $411,969.69. Following the transaction, the insider now owns 33,545 shares in the company, valued at $5,898,217.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Richard Lumb sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $181.19, for a total value of $3,261,420.00. Following the transaction, the insider now owns 95,215 shares in the company, valued at approximately $17,252,005.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,919 shares of company stock valued at $11,695,852. Corporate insiders own 0.18% of the company’s stock.
Several research analysts have issued reports on ACN shares. Berenberg Bank reiterated a “buy” rating and set a $190.00 price objective on shares of Accenture in a research note on Monday, April 1st. ValuEngine upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Citigroup raised their target price on Accenture from $169.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, March 29th. UBS Group set a $180.00 target price on Accenture and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, SunTrust Banks raised their target price on Accenture to $180.00 and gave the company a “hold” rating in a research note on Friday, March 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Accenture presently has an average rating of “Buy” and a consensus target price of $183.58.
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Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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