Keudell Morrison Wealth Management reduced its stake in shares of Accenture plc (NYSE: ACN – Get Rating) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,911 shares of the information technology services provider’s stock after selling 354 shares during the period. Keudell Morrison Wealth Management’s holdings in Accenture were worth $ 982,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ACN. New World Advisors LLC purchased a new position in shares of Accenture during the 3rd quarter valued at about $ 341,000. MFA Wealth Advisors LLC purchased a new position in shares of Accenture during the 3rd quarter valued at about $ 101,000. Studio Investment Management LLC purchased a new position in shares of Accenture during the 3rd quarter valued at about $ 757,000. Wealthsource Partners LLC raised its stake in Accenture by 2.5% during the 3rd quarter. Wealthsource Partners LLC now owns 3,980 shares of the information technology services provider’s stock valued at $ 1,273,000 after purchasing an additional 97 shares during the period. Finally, Cape ANN Savings Bank raised its stake in Accenture by 2.5% during the 3rd quarter. Cape ANN Savings Bank now owns 3,484 shares of the information technology services provider’s stock valued at $ 1,115,000 after purchasing an additional 84 shares during the period. 74.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ACN stock opened at $ 292.62 on Tuesday. Accenture plc has a twelve month low of $ 268.17 and a twelve month high of $ 417.37. The stock has a market capitalization of $ 185.49 billion, a price-to-earnings ratio of 28.38, a P / E / G ratio of 2.80 and a beta of 1.24. The stock has a fifty day simple moving average of $ 294.13 and a two-hundred day simple moving average of $ 328.39.
Accenture (NYSE: ACN – Get Rating) last issued its earnings results on Thursday, June 23rd. The information technology services provider reported $ 2.79 earnings per share for the quarter, missing the consensus estimate of $ 2.84 by ($ 0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period in the previous year, the firm earned $ 2.40 earnings per share. Analysts forecast that Accenture plc will post 10.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 14th will be paid a dividend of $ 0.97 per share. This represents a $ 3.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, July 13th. Accenture’s dividend payout ratio (DPR) is currently 37.63%.
ACN has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on Accenture from $ 435.00 to $ 357.00 and set an “outperform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on Accenture from $ 440.00 to $ 364.00 in a research note on Friday, June 17th. StockNews.com started coverage on Accenture in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Citigroup reduced their price objective on Accenture from $ 400.00 to $ 330.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Cowen reduced their price objective on Accenture from $ 330.00 to $ 325.00 and set an “outperform” rating on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 360.03.
In related news, General Counsel Joel Unruch sold 470 shares of the company stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 315.06, for a total transaction of $ 148,078.20. Following the transaction, the general counsel now directly owns 26,427 shares of the company stock, valued at approximately $ 8,326,090.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the company stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $ 315.13, for a total value of $ 1,969,562.50. Following the transaction, the insider now directly owns 165,866 shares in the company, valued at $ 52,269,352.58. The disclosure for this sale can be found here. Insiders have sold a total of 10,757 shares of company stock valued at $ 3,386,681 over the last 90 days. 0.07% of the stock is currently owned by company insiders.
About Accenture: (Get Rating)
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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