TrimTabs Asset Management LLC Makes New Investment in Accenture plc (NYSE:ACN)


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TrimTabs Asset Management LLC bought a new position in Accenture plc (NYSE:ACN) during the 1st quarter, Holdings Channel.com reports. The fund bought 11,007 shares of the information technology services provider’s stock, valued at approximately $3,090,000. Accenture accounts for about 1.6% of TrimTabs Asset Management LLC’s investment portfolio, making the stock its 6th largest holding.

A number of other large investors have also recently made changes to their positions in ACN. United Bank boosted its position in Accenture by 9.9% in the third quarter. United Bank now owns 2,347 shares of the information technology services provider’s stock worth $530,000 after purchasing an additional 212 shares during the last quarter. First City Capital Management Inc. lifted its position in shares of Accenture by 51.5% during the 3rd quarter. First City Capital Management Inc. now owns 1,470 shares of the information technology services provider’s stock valued at $337,000 after buying an additional 500 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of Accenture during the 3rd quarter valued at about $223,000. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Accenture during the 3rd quarter valued at about $1,329,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Accenture by 373.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 59,909 shares of the information technology services provider’s stock valued at $13,539,000 after buying an additional 47,245 shares in the last quarter. 70.99% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Jean-Marc Ollagnier sold 4,157 shares of the business’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $254.17, for a total transaction of $1,056,584.69. Following the completion of the transaction, the insider now owns 180,521 shares in the company, valued at approximately $45,883,022.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Johan Deblaere sold 8,000 shares of the company’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $280.00, for a total value of $2,240,000.00. Following the completion of the sale, the chief operating officer now owns 52,579 shares of the company’s stock, valued at $14,722,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,482 shares of company stock valued at $10,186,569. 0.07% of the stock is owned by company insiders.

Several analysts recently issued reports on the company. Piper Sandler lifted their target price on Accenture from $210.00 to $282.00 and gave the company a “neutral” rating in a research note on Friday, December 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Accenture from $278.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday. Berenberg Bank lifted their target price on Accenture from $258.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 2nd. Morgan Stanley lifted their price objective on Accenture from $297.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 23rd. Finally, Wells Fargo & Company assumed coverage on Accenture in a research note on Friday, December 18th. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $267.96.

Shares of NYSE ACN traded up $2.25 during trading hours on Thursday, hitting $284.82. 24,957 shares of the company traded hands, compared to its average volume of 2,154,414. The stock has a market capitalization of $181.19 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 3.09 and a beta of 1.08. The company’s 50 day moving average price is $263.45 and its 200 day moving average price is $248.56. Accenture plc has a 12 month low of $165.07 and a 12 month high of $283.63.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.13. Accenture had a return on equity of 29.32% and a net margin of 11.74%. The company had revenue of $12.09 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter in the previous year, the business earned $1.91 EPS. Accenture’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 8.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, April 14th. Accenture’s payout ratio is currently 47.18%.

About Accenture

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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