Bridges Investment Management Inc. Reduces Position in Accenture PLC $ACN

Bridges Investment Management Inc. cut its holdings in shares of Accenture PLC (NYSE:ACNFree Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,310 shares of the information technology services provider’s stock after selling 4,641 shares during the period. Bridges Investment Management Inc.’s holdings in Accenture were worth $18,328,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new stake in shares of Accenture during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $27,000. Triumph Capital Management bought a new position in Accenture in the third quarter valued at about $26,000. Private Wealth Management Group LLC boosted its position in Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Steph & Co. boosted its position in Accenture by 107.5% in the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ACN shares. Guggenheim dropped their target price on Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Mizuho cut their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Citigroup cut their target price on Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley decreased their target price on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Finally, BMO Capital Markets dropped their price target on Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Sixteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $270.62.

View Our Latest Analysis on Accenture

Accenture Price Performance

Accenture stock opened at $186.27 on Wednesday. The stock has a market cap of $123.95 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $321.77. The firm has a 50-day moving average of $185.57 and a two-hundred day moving average of $226.05.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 EPS. On average, research analysts forecast that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a yield of 3.5%. Accenture’s dividend payout ratio (DPR) is 53.40%.

Key Headlines Impacting Accenture

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Accenture Company Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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