Field & Main Bank bought a new position in Accenture Plc (NYSE:ACN) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,070 shares of the information technology services provider’s stock, valued at approximately $892,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Valley National Advisers Inc. increased its holdings in shares of Accenture by 70.2% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 73 shares during the period. Truvestments Capital LLC acquired a new position in shares of Accenture during the first quarter valued at $27,000. Focused Wealth Management Inc increased its holdings in shares of Accenture by 100.0% during the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Accenture during the first quarter valued at $30,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Accenture during the fourth quarter valued at $42,000. 70.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ACN stock opened at $180.83 on Monday. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $181.41. The stock has a market cap of $121.51 billion, a P/E ratio of 26.83, a PEG ratio of 2.40 and a beta of 1.12.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.16. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The business had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Accenture Plc will post 7.3 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a dividend of $1.46 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s dividend payout ratio is currently 43.32%.
In related news, insider Ellyn Shook sold 1,172 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $155.00, for a total value of $181,660.00. Following the completion of the transaction, the insider now owns 36,337 shares in the company, valued at approximately $5,632,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Richard P. Clark sold 6,266 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $177.78, for a total value of $1,113,969.48. The disclosure for this sale can be found here. Insiders have sold 33,091 shares of company stock valued at $5,817,092 in the last ninety days. Company insiders own 0.18% of the company’s stock.
A number of research analysts have recently commented on ACN shares. ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Citigroup raised their price target on Accenture from $169.00 to $194.00 and gave the company a “buy” rating in a report on Friday, March 29th. Bank of America raised Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price target on the stock in a report on Tuesday, January 8th. They noted that the move was a valuation call. Berenberg Bank reissued a “buy” rating and set a $190.00 price target on shares of Accenture in a report on Monday, April 1st. Finally, SunTrust Banks set a $157.00 price target on Accenture and gave the company a “hold” rating in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $183.58.
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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