Argent Trust Co raised its stake in Accenture plc (NYSE:ACN) by 0.8% during the first quarter, HoldingsChannel.com reports. The fund owned 16,832 shares of the information technology services provider’s stock after acquiring an additional 133 shares during the quarter. Argent Trust Co’s holdings in Accenture were worth $4,649,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ACN. JPMorgan Chase & Co. increased its position in shares of Accenture by 6.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,860,760 shares of the information technology services provider’s stock worth $1,619,036,000 after purchasing an additional 376,605 shares in the last quarter. Ropes Wealth Advisors LLC increased its holdings in shares of Accenture by 1.3% during the first quarter. Ropes Wealth Advisors LLC now owns 3,600 shares of the information technology services provider’s stock worth $1,037,000 after buying an additional 46 shares in the last quarter. MV Capital Management Inc. raised its position in Accenture by 16.2% in the 1st quarter. MV Capital Management Inc. now owns 8,070 shares of the information technology services provider’s stock valued at $2,229,000 after purchasing an additional 1,127 shares during the last quarter. South State CORP. boosted its stake in Accenture by 5.7% in the first quarter. South State CORP. now owns 8,941 shares of the information technology services provider’s stock worth $2,470,000 after purchasing an additional 480 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Accenture by 29.8% during the first quarter. Ritholtz Wealth Management now owns 3,339 shares of the information technology services provider’s stock worth $922,000 after purchasing an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 73.01% of the company’s stock.
ACN has been the topic of a number of recent research reports. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Thursday, March 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Accenture from $278.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, April 6th. BMO Capital Markets increased their price target on Accenture from $292.00 to $302.00 and gave the company a “market perform” rating in a research note on Friday, March 19th. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating on shares of Accenture in a report on Thursday, May 6th. Finally, Susquehanna upped their price target on Accenture from $290.00 to $325.00 and gave the company a “positive” rating in a research note on Friday, March 19th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Accenture has a consensus rating of “Buy” and a consensus target price of $276.05.
Accenture (NYSE:ACN) last released its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.13. The company had revenue of $12.09 billion for the quarter, compared to analysts’ expectations of $11.83 billion. Accenture had a return on equity of 28.53% and a net margin of 11.95%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.91 earnings per share. On average, analysts anticipate that Accenture plc will post 8.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Thursday, April 15th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Wednesday, April 14th. Accenture’s dividend payout ratio (DPR) is presently 47.18%.
In other Accenture news, CEO Gianfranco Casati sold 3,675 shares of the stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $286.33, for a total value of $1,052,262.75. Following the transaction, the chief executive officer now owns 28,418 shares in the company, valued at $8,136,925.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $286.37, for a total value of $1,288,665.00. Following the completion of the sale, the chief financial officer now directly owns 20,139 shares of the company’s stock, valued at approximately $5,767,205.43. The disclosure for this sale can be found here. Insiders sold a total of 30,629 shares of company stock worth $8,721,835 over the last three months. 0.07% of the stock is owned by company insiders.
Accenture Company Profile
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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