Ascent Wealth Partners LLC Raises Position in Accenture Plc (NYSE:ACN)

Ascent Wealth Partners LLC lifted its stake in Accenture Plc (NYSE:ACN) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,216 shares of the information technology services provider’s stock after purchasing an additional 1,869 shares during the period. Accenture accounts for 2.0% of Ascent Wealth Partners LLC’s portfolio, making the stock its 15th largest position. Ascent Wealth Partners LLC’s holdings in Accenture were worth $6,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Mitchell Capital Management Co. boosted its stake in Accenture by 1.4% in the first quarter. Mitchell Capital Management Co. now owns 4,140 shares of the information technology services provider’s stock valued at $729,000 after acquiring an additional 56 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Accenture by 11.2% during the first quarter. TCI Wealth Advisors Inc. now owns 637 shares of the information technology services provider’s stock worth $112,000 after purchasing an additional 64 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Accenture by 1.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 5,582 shares of the information technology services provider’s stock worth $787,000 after purchasing an additional 67 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Accenture by 15.6% during the fourth quarter. Global Retirement Partners LLC now owns 496 shares of the information technology services provider’s stock worth $70,000 after purchasing an additional 67 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its position in shares of Accenture by 4.5% during the first quarter. Convergence Investment Partners LLC now owns 1,578 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 68 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

ACN opened at $184.59 on Thursday. The firm has a market capitalization of $123.22 billion, a P/E ratio of 25.97, a P/E/G 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 posted 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 business had revenue of $10.45 billion for 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%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. On average, equities analysts predict that Accenture Plc will post 7.29 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a $1.46 dividend. The ex-dividend date of this dividend 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 Accenture stock in a transaction on Monday, April 29th. The shares were sold at an average price of $181.19, for a total value of $3,261,420.00. Following the sale, the insider now directly owns 95,215 shares in the company, valued at approximately $17,252,005.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Johan Deblaere sold 3,000 shares of Accenture stock in a transaction on Monday, April 1st. The shares were sold at an average price of $175.80, for a total transaction of $527,400.00. Following the completion of the sale, the chief operating officer now owns 74,937 shares in the company, valued at $13,173,924.60. The disclosure for this sale can be found here. Insiders sold a total of 65,919 shares of company stock worth $11,695,852 over the last ninety days. 0.18% of the stock is currently owned by insiders.

A number of equities analysts have recently weighed in on the stock. Deutsche Bank lifted their price target on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America cut 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. Credit Suisse Group set a $170.00 price target on shares of Accenture and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Berenberg Bank reissued a “buy” rating and set a $190.00 price target on shares of Accenture in a research report on Monday, April 1st. Finally, William Blair reissued an “outperform” rating on shares of Accenture in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Accenture presently has a consensus rating of “Buy” and a consensus target price of $184.11.

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Accenture 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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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