TrimTabs Asset Management LLC raised its stake in shares of Accenture Plc (NYSE:ACN) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,250 shares of the information technology services provider’s stock after purchasing an additional 392 shares during the period. Accenture accounts for approximately 1.1% of TrimTabs Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. TrimTabs Asset Management LLC’s holdings in Accenture were worth $1,452,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ACN. Valley National Advisers Inc. grew its stake in shares of Accenture by 70.2% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 73 shares during the period. Focused Wealth Management Inc boosted its stake in Accenture by 100.0% during the 4th quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Accenture during the 4th quarter valued at about $42,000. Hanson McClain Inc. boosted its stake in Accenture by 28.4% during the 4th quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 75 shares during the last quarter. Finally, WealthTrust Arizona LLC boosted its stake in Accenture by 25.1% during the 4th quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock valued at $51,000 after purchasing an additional 72 shares during the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on ACN. Credit Suisse Group set a $170.00 target price on shares of Accenture and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. KeyCorp lifted their price target on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, March 29th. Morgan Stanley lifted their price target on shares of Accenture from $178.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 29th. Finally, Cantor Fitzgerald lifted their price objective on shares of Accenture from $185.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, March 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $183.58.
Shares of NYSE:ACN traded up $0.72 during trading hours on Wednesday, hitting $179.78. The company’s stock had a trading volume of 353,020 shares, compared to its average volume of 2,171,418. Accenture Plc has a 52 week low of $132.63 and a 52 week high of $179.90. The firm has a market cap of $120.90 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.38 and a beta of 1.12.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.57 by $0.16. The business had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.30 billion. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. Sell-side analysts expect that Accenture Plc will post 7.3 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a dividend of $1.46 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
In other news, CFO David Rowland sold 2,916 shares of the company’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $150.00, for a total value of $437,400.00. Following the sale, the chief financial officer now directly owns 30,250 shares of the company’s stock, valued at approximately $4,537,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $148.48, for a total transaction of $296,960.00. Following the completion of the sale, the insider now directly owns 134,181 shares in the company, valued at $19,923,194.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,314 shares of company stock valued at $2,604,645. 0.18% of the stock is currently owned by company insiders.
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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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