Bridges Investment Management Inc. Reduces Holdings in Accenture PLC $ACN

Bridges Investment Management Inc. decreased its holdings in shares of Accenture PLC (NYSE:ACNFree Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 68,310 shares of the information technology services provider’s stock after selling 4,641 shares during the period. Bridges Investment Management Inc.’s holdings in Accenture were worth $18,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in Accenture in the third quarter valued at approximately $26,000. Board of the Pension Protection Fund purchased a new stake in Accenture in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in Accenture in the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its position in Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 53 shares during the last quarter. Finally, Steph & Co. boosted its position in Accenture by 107.5% in the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the sale, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Key Headlines Impacting Accenture

Here are the key news stories impacting Accenture this week:

Accenture Stock Performance

Shares of ACN stock opened at $186.27 on Wednesday. The company has a market capitalization of $123.95 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.87 and a beta of 1.08. The business’s 50 day moving average is $185.57 and its two-hundred day moving average is $226.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12-month low of $155.82 and a 12-month high of $321.77.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. Analysts expect that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a yield of 3.5%. Accenture’s dividend payout ratio is currently 53.40%.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group reiterated a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. BMO Capital Markets dropped their target price on Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, March 20th. Robert W. Baird reduced their price target on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Royal Bank Of Canada reduced their price target on Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.62.

Check Out Our Latest Stock Analysis on Accenture

About Accenture

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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