Tradition Capital Management LLC bought a new position in shares of Accenture Plc (NYSE:ACN) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,660 shares of the information technology services provider’s stock, valued at approximately $292,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Accenture by 1.5% during the third quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after purchasing an additional 770,904 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Accenture during the fourth quarter valued at approximately $214,000. BKD Wealth Advisors LLC increased its stake in shares of Accenture by 0.7% during the fourth quarter. BKD Wealth Advisors LLC now owns 23,865 shares of the information technology services provider’s stock valued at $3,365,000 after purchasing an additional 164 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of Accenture by 9.0% during the fourth quarter. Oakbrook Investments LLC now owns 4,251 shares of the information technology services provider’s stock valued at $599,000 after purchasing an additional 350 shares in the last quarter. Finally, PFG Advisors bought a new position in shares of Accenture during the fourth quarter valued at approximately $2,251,000. Institutional investors own 69.98% of the company’s stock.
ACN has been the subject of a number of analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a $190.00 target price on shares of Accenture in a research note on Monday, April 1st. ValuEngine upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Citigroup increased their price target on shares of Accenture from $169.00 to $194.00 and gave the company a “buy” rating in a report on Friday, March 29th. UBS Group set a $180.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, SunTrust Banks increased their price target on shares of Accenture to $180.00 and gave the company a “hold” rating in a report on Friday, March 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $183.58.
In related news, COO Johan Deblaere sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $175.80, for a total value of $527,400.00. Following the sale, the chief operating officer now owns 74,937 shares in the company, valued at $13,173,924.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 2,343 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total transaction of $411,969.69. Following the completion of the sale, the insider now owns 33,545 shares in the company, valued at approximately $5,898,217.35. The disclosure for this sale can be found here. Insiders sold 65,919 shares of company stock worth $11,695,852 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.
ACN stock traded up $1.02 on Tuesday, hitting $179.56. The company had a trading volume of 13,908 shares, compared to its average volume of 1,939,776. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $183.35. The stock has a market capitalization of $120.78 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.36 and a beta of 1.12.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.16. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The company had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Accenture Plc will post 7.31 EPS for the current year.
The business also recently announced a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a $1.46 dividend. This represents a yield of 1.66%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend payout ratio is currently 43.32%.
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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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