Isthmus Partners LLC reduced its position in Accenture plc (NYSE:ACN) by 3.6% in the 2nd quarter, Holdings Channel reports. The firm owned 33,512 shares of the information technology services provider’s stock after selling 1,245 shares during the quarter. Accenture comprises approximately 1.7% of Isthmus Partners LLC’s investment portfolio, making the stock its 20th biggest position. Isthmus Partners LLC’s holdings in Accenture were worth $9,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its stake in Accenture by 0.3% during the second quarter. Kestra Private Wealth Services LLC now owns 10,798 shares of the information technology services provider’s stock worth $3,183,000 after acquiring an additional 33 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Accenture by 0.3% during the second quarter. Cullen Frost Bankers Inc. now owns 12,744 shares of the information technology services provider’s stock worth $3,757,000 after acquiring an additional 34 shares in the last quarter. Hamilton Capital LLC raised its stake in Accenture by 3.2% during the first quarter. Hamilton Capital LLC now owns 1,165 shares of the information technology services provider’s stock worth $322,000 after acquiring an additional 36 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Accenture by 0.6% during the first quarter. Checchi Capital Advisers LLC now owns 6,700 shares of the information technology services provider’s stock worth $1,851,000 after acquiring an additional 37 shares in the last quarter. Finally, First Horizon Corp raised its stake in Accenture by 0.3% during the second quarter. First Horizon Corp now owns 10,983 shares of the information technology services provider’s stock worth $3,237,000 after acquiring an additional 38 shares in the last quarter. 73.20% of the stock is owned by hedge funds and other institutional investors.
NYSE:ACN traded up $2.81 during mid-day trading on Wednesday, reaching $343.53. 14,049 shares of the company’s stock traded hands, compared to its average volume of 1,911,498. Accenture plc has a 12-month low of $210.42 and a 12-month high of $345.52. The company has a 50 day moving average price of $324.95 and a 200-day moving average price of $296.70. The firm has a market capitalization of $218.02 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 3.48 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, July 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, July 14th. Accenture’s payout ratio is 47.18%.
In other Accenture news, Director Paula A. Price sold 685 shares of the business’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $294.05, for a total value of $201,424.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jean-Marc Ollagnier sold 581 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $293.46, for a total transaction of $170,500.26. Following the completion of the transaction, the insider now owns 172,422 shares in the company, valued at $50,598,960.12. The disclosure for this sale can be found here. In the last three months, insiders sold 19,993 shares of company stock valued at $6,194,020. 0.07% of the stock is owned by insiders.
A number of analysts have recently weighed in on ACN shares. raised their target price on Accenture from $310.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, June 25th. Morgan Stanley raised their price target on Accenture from $330.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, September 10th. Robert W. Baird reiterated a “neutral” rating on shares of Accenture in a report on Thursday, September 9th. Jefferies Financial Group began coverage on Accenture in a report on Monday, June 21st. They issued a “hold” rating and a $309.00 price target on the stock. Finally, Cowen raised their price target on Accenture from $316.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $322.99.
Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.
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