Exchange Bank increased its position in Accenture plc (NYSE:ACN – Free Report) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 776 shares of the information technology services provider’s stock after acquiring an additional 40 shares during the quarter. Exchange Bank’s holdings in Accenture were worth $242,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ACN. FPC Investment Advisory Inc. grew its position in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the 4th quarter worth $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Accenture during the fourth quarter valued at about $30,000. Park Square Financial Group LLC purchased a new stake in Accenture during the fourth quarter valued at about $31,000. Finally, Promus Capital LLC bought a new stake in shares of Accenture during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.
Insider Buying and Selling
In other Accenture news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.
Accenture Trading Down 0.5%
Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.77 earnings per share. On average, research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.
Accenture Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.85%. Accenture’s payout ratio is 48.89%.
Wall Street Analyst Weigh In
A number of brokerages have commented on ACN. Wall Street Zen cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Mizuho reduced their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Morgan Stanley reduced their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. BMO Capital Markets raised their target price on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Finally, Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $382.14.
Get Our Latest Stock Analysis on Accenture
About Accenture
Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.
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