Newfound Research LLC lessened its stake in Accenture plc (NYSE:ACN) by 38.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298 shares of the information technology services provider’s stock after selling 189 shares during the quarter. Accenture comprises 0.2% of Newfound Research LLC’s investment portfolio, making the stock its 29th biggest position. Newfound Research LLC’s holdings in Accenture were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Cowa LLC acquired a new position in shares of Accenture in the fourth quarter worth approximately $31,000. Key Financial Inc acquired a new position in shares of Accenture during the fourth quarter worth approximately $36,000. Capstone Triton Financial Group LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $38,000. Freedman Financial Associates Inc. acquired a new position in shares of Accenture during the fourth quarter worth approximately $38,000. Finally, MD Financial Management Inc. acquired a new position in shares of Accenture during the fourth quarter worth approximately $44,000. 70.99% of the stock is owned by institutional investors and hedge funds.
In other news, insider Ellyn Shook sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $290.21, for a total value of $754,546.00. Following the completion of the transaction, 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 SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,167 shares of Accenture stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $287.77, for a total value of $623,597.59. Following the transaction, the chief executive officer now owns 21,652 shares of the company’s stock, valued at approximately $6,230,796.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,598 shares of company stock valued at $12,957,921. 0.07% of the stock is currently owned by company insiders.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.13. The firm had revenue of $12.09 billion for the quarter, compared to analyst estimates of $11.83 billion. Accenture had a return on equity of 29.32% and a net margin of 11.74%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.91 EPS. Analysts expect that Accenture plc will post 8.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, April 14th. Accenture’s payout ratio is presently 47.18%.
A number of equities analysts have recently weighed in on ACN shares. Robert W. Baird reaffirmed a “hold” rating on shares of Accenture in a research report on Sunday, April 11th. Royal Bank of Canada upped their price objective on Accenture from $278.00 to $301.00 in a research note on Friday, March 19th. Berenberg Bank upped their price objective on Accenture from $258.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 2nd. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Wednesday, March 24th. Finally, BMO Capital Markets increased their price target on Accenture from $292.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, March 25th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Accenture has an average rating of “Buy” and an average price target of $276.05.
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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