Front Row Advisors LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 599 shares of the information technology services provider’s stock after purchasing an additional 36 shares during the period. Front Row Advisors LLC’s holdings in Accenture were worth $165,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in Accenture during the third quarter worth about $223,000. Sei Investments Co. lifted its holdings in shares of Accenture by 24.6% during the 3rd quarter. Sei Investments Co. now owns 351,628 shares of the information technology services provider’s stock worth $79,483,000 after acquiring an additional 69,437 shares during the period. Park National Corp OH increased its stake in Accenture by 10.3% in the fourth quarter. Park National Corp OH now owns 104,740 shares of the information technology services provider’s stock valued at $27,359,000 after acquiring an additional 9,762 shares during the last quarter. Thomasville National Bank acquired a new position in Accenture during the fourth quarter valued at approximately $222,000. Finally, Private Trust Co. NA boosted its holdings in shares of Accenture by 3.6% in the 4th quarter. Private Trust Co. NA now owns 6,863 shares of the information technology services provider’s stock valued at $1,792,000 after purchasing an additional 240 shares in the last quarter. 70.99% of the stock is currently owned by institutional investors.
In related news, insider Ellyn Shook sold 2,600 shares of the company’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $290.21, for a total value of $754,546.00. Following the sale, the insider now owns 20,589 shares in the company, valued at approximately $5,975,133.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jean-Marc Ollagnier sold 581 shares of the firm’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $264.76, for a total transaction of $153,825.56. Following the completion of the transaction, the insider now directly owns 178,568 shares in the company, valued at approximately $47,277,663.68. The disclosure for this sale can be found here. Insiders sold 47,598 shares of company stock valued at $12,957,921 in the last three months. Insiders own 0.07% of the company’s stock.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.13. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The business had revenue of $12.09 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period last year, the company posted $1.91 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Accenture plc will post 8.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $3.52 annualized dividend and a yield of 1.20%. Accenture’s payout ratio is currently 47.18%.
ACN has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Accenture from $278.00 to $301.00 in a research note on Friday, March 19th. Susquehanna Bancshares raised their price target on shares of Accenture from $290.00 to $325.00 and gave the company a “positive” rating in a research note on Friday, March 19th. Bank of America upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Wednesday, March 24th. 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 report on Tuesday, April 13th. Finally, Susquehanna upped their price target on shares of Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a report on Thursday, March 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $276.05.
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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