Burleson & Company LLC bought a new stake in Accenture plc (NYSE:ACN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 198 shares of the information technology services provider’s stock, valued at approximately $55,000.
Several other hedge funds have also recently added to or reduced their stakes in ACN. Better Money Decisions LLC bought a new position in Accenture in the first quarter valued at approximately $29,000. Cowa LLC bought a new position in shares of Accenture in the 4th quarter worth $31,000. Wealthcare Capital Management LLC bought a new stake in Accenture in the first quarter valued at about $33,000. Freedman Financial Associates Inc. bought a new position in Accenture during the fourth quarter worth about $38,000. Finally, Summit Wealth Group LLC bought a new position in shares of Accenture during the first quarter worth $43,000. Institutional investors own 73.01% of the company’s stock.
In other Accenture news, insider Jean-Marc Ollagnier sold 581 shares of the company’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $264.76, for a total transaction of $153,825.56. Following the completion of the sale, the insider now directly owns 178,568 shares in the company, valued at $47,277,663.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 2,600 shares of the firm’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $290.21, for a total value of $754,546.00. Following the completion of the sale, the insider now directly owns 20,589 shares in the company, valued at approximately $5,975,133.69. The disclosure for this sale can be found here. Insiders have sold 30,629 shares of company stock worth $8,721,835 over the last quarter. Corporate insiders own 0.07% of the company’s stock.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.13. The business had revenue of $12.09 billion for the quarter, compared to the consensus estimate of $11.83 billion. Accenture had a return on equity of 28.53% and a net margin of 11.95%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 earnings per share. As a group, equities research analysts forecast that Accenture plc will post 8.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Thursday, April 15th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, April 14th. Accenture’s dividend payout ratio (DPR) is presently 47.18%.
ACN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Accenture from $278.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, April 6th. Morgan Stanley reissued a “buy” rating and set a $305.00 price objective on shares of Accenture in a research report on Monday, May 10th. Robert W. Baird restated a “hold” rating on shares of Accenture in a research note on Thursday, May 6th. Royal Bank of Canada upped their price objective on Accenture from $278.00 to $301.00 in a research note on Friday, March 19th. Finally, Susquehanna Bancshares boosted their target price on shares of Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a report on Friday, March 19th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $276.05.
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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