Burney Co. boosted its position in Accenture Plc (NYSE:ACN) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,274 shares of the information technology services provider’s stock after purchasing an additional 2,894 shares during the quarter. Accenture makes up approximately 1.2% of Burney Co.’s investment portfolio, making the stock its 10th largest holding. Burney Co.’s holdings in Accenture were worth $19,939,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Sandy Spring Bank raised its position in Accenture by 17.7% in the first quarter. Sandy Spring Bank now owns 34,986 shares of the information technology services provider’s stock worth $6,158,000 after acquiring an additional 5,253 shares during the period. Wendell David Associates Inc. raised its position in Accenture by 0.9% in the first quarter. Wendell David Associates Inc. now owns 37,354 shares of the information technology services provider’s stock worth $6,575,000 after acquiring an additional 350 shares during the period. Mason Street Advisors LLC raised its position in shares of Accenture by 1.2% in the first quarter. Mason Street Advisors LLC now owns 90,940 shares of the information technology services provider’s stock valued at $16,007,000 after purchasing an additional 1,069 shares during the period. Field & Main Bank bought a new stake in shares of Accenture in the first quarter valued at approximately $892,000. Finally, Pinnacle Financial Partners Inc. raised its position in shares of Accenture by 14.8% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 6,699 shares of the information technology services provider’s stock valued at $945,000 after purchasing an additional 864 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.
Shares of NYSE:ACN opened at $184.59 on Thursday. The company has a market cap of $123.22 billion, a P/E ratio of 25.97, a PEG ratio of 2.43 and a beta of 1.08. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $186.68.
Accenture (NYSE:ACN) last issued its quarterly earnings data 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 company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Accenture had a net margin of 10.52% and a return on equity of 38.57%. Accenture’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. As a group, equities analysts forecast that Accenture Plc will post 7.29 EPS for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were paid a dividend of $1.46 per share. The ex-dividend date was Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s dividend payout ratio is currently 43.32%.
In other Accenture news, insider Richard Lumb sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $172.82, for a total value of $3,110,760.00. Following the completion of the transaction, the insider now owns 90,536 shares of the company’s stock, valued at approximately $15,646,431.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Richard P. Clark sold 6,266 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total transaction of $1,113,969.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,919 shares of company stock valued at $11,695,852. 0.18% of the stock is owned by corporate insiders.
ACN has been the topic of several research reports. Bank of America lowered shares of Accenture from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of Accenture to $185.00 and gave the company a “market perform” rating in a research report on Friday, March 29th. Robert W. Baird boosted their price target on shares of Accenture from $174.00 to $182.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. SunTrust Banks boosted their price target on shares of 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. Finally, KeyCorp boosted their price target on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $184.11.
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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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