Arcadia Investment Management Corp MI Has $10.30 Million Stock Position in Accenture PLC $ACN

Arcadia Investment Management Corp MI decreased its stake in shares of Accenture PLC (NYSE:ACN) by 13.7% during the 4th quarter, Holdings Channel reports. The firm owned 38,380 shares of the information technology services provider’s stock after selling 6,100 shares during the period. Accenture comprises about 1.7% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 18th biggest position. Arcadia Investment Management Corp MI’s holdings in Accenture were worth $10,297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. New Mexico Educational Retirement Board increased its position in shares of Accenture by 1.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 28,650 shares of the information technology services provider’s stock worth $7,687,000 after purchasing an additional 400 shares during the last quarter. Swisher Financial Concepts Inc. acquired a new position in shares of Accenture during the 4th quarter worth approximately $204,000. Ellevest Inc. increased its holdings in shares of Accenture by 15.1% during the 4th quarter. Ellevest Inc. now owns 3,551 shares of the information technology services provider’s stock worth $953,000 after acquiring an additional 467 shares during the last quarter. Florida Financial Advisors LLC increased its holdings in shares of Accenture by 7.7% during the 4th quarter. Florida Financial Advisors LLC now owns 1,559 shares of the information technology services provider’s stock worth $418,000 after acquiring an additional 112 shares during the last quarter. Finally, Redwood Financial Network Corp acquired a new position in shares of Accenture during the 4th quarter worth approximately $221,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. HSBC decreased their target price on Accenture from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Guggenheim decreased their target price on Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Mizuho decreased their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.50.

Accenture Stock Performance

ACN opened at $187.32 on Monday. The business has a fifty day simple moving average of $185.71 and a 200 day simple moving average of $226.37. The company has a market capitalization of $124.65 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $321.77. 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 (NYSE:ACN) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 EPS. Research analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

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

Insider Buying and Selling at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was 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 owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

About Accenture

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.