Hallmark Capital Management Inc. lowered its stake in shares of Accenture Plc (NYSE:ACN) by 1.6% during the first quarter, HoldingsChannel.com reports. The fund owned 111,822 shares of the information technology services provider’s stock after selling 1,834 shares during the period. Accenture comprises 2.1% of Hallmark Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Hallmark Capital Management Inc.’s holdings in Accenture were worth $19,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ACN. Valley National Advisers Inc. boosted its stake in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 73 shares in the last quarter. Truvestments Capital LLC acquired a new position in Accenture in the first quarter valued at $27,000. Focused Wealth Management Inc boosted its stake in Accenture by 100.0% in the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Accenture in the first quarter valued at $30,000. Finally, Semmax Financial Advisors Inc. acquired a new position in Accenture in the first quarter valued at $32,000. 69.26% of the stock is currently owned by institutional investors and hedge funds.

ACN has been the subject of several research analyst reports. KeyCorp upped their price objective on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. Cantor Fitzgerald upped their price objective on shares of Accenture from $185.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday, March 29th. SunTrust Banks upped their price objective on shares of 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. UBS Group set a $180.00 price objective on shares of Accenture and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. 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 stock. Accenture currently has a consensus rating of “Buy” and a consensus price target of $183.58.

In related news, insider Richard Lumb sold 18,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $172.82, for a total transaction of $3,110,760.00. Following the completion of the transaction, the insider now directly owns 90,536 shares of the company’s stock, valued at $15,646,431.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 2,343 shares of the 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 directly owns 33,545 shares of the company’s stock, valued at $5,898,217.35. The disclosure for this sale can be found here. Insiders have sold 65,919 shares of company stock valued at $11,695,852 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Shares of ACN opened at $178.07 on Monday. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $183.35. The stock has a market cap of $119.66 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 2.36 and a beta of 1.07.

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, topping the consensus estimate of $1.57 by $0.16. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The business had revenue of $10.45 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Accenture Plc will post 7.29 EPS for the current fiscal year.

The company also recently declared a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a dividend of $1.46 per share. The ex-dividend date was Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s dividend payout ratio is currently 43.32%.

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About Accenture

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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