Goelzer Investment Management Inc. purchased a new position in Accenture Plc (NYSE:ACN) in the 1st quarter, Holdings Channel reports. The fund purchased 5,000 shares of the information technology services provider’s stock, valued at approximately $880,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Truvestments Capital LLC purchased a new stake in shares of Accenture during the first quarter worth approximately $27,000. Financial Gravity Wealth Inc. acquired a new position in Accenture in the first quarter valued at approximately $30,000. Valley National Advisers Inc. boosted its holdings in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. Focused Wealth Management Inc boosted its holdings in Accenture by 100.0% in the fourth 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 in the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in Accenture in the first quarter valued at approximately $46,000. 69.98% of the stock is owned by institutional investors.
NYSE ACN opened at $173.61 on Thursday. The stock has a market capitalization of $117.26 billion, a PE ratio of 25.76, a PEG ratio of 2.27 and a beta of 1.12. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $183.35.
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 dividend of $1.46 per share. The ex-dividend date was Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s payout ratio is currently 43.32%.
In other Accenture news, COO Johan Deblaere sold 3,000 shares of Accenture stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.80, for a total transaction of $527,400.00. Following the sale, the chief operating officer now directly owns 74,937 shares in the company, valued at approximately $13,173,924.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ellyn Shook sold 2,343 shares of Accenture stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total value of $411,969.69. Following the sale, the insider now owns 33,545 shares in the company, valued at $5,898,217.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,919 shares of company stock worth $11,695,852. Company insiders own 0.18% of the company’s stock.
A number of brokerages have recently weighed in on ACN. ValuEngine upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Citigroup upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price target for the company from $161.00 to $169.00 in a research report on Wednesday, January 16th. Berenberg Bank restated a “buy” rating and issued a $190.00 price target on shares of Accenture in a research report on Monday, April 1st. UBS Group set a $180.00 price target on Accenture and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, SunTrust Banks raised their price target on Accenture to $180.00 and gave the company a “hold” rating in a research 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 assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $183.58.
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Accenture Company Profile
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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