Cobiz Wealth LLC grew its holdings in Accenture Plc (NYSE:ACN) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,232 shares of the information technology services provider’s stock after buying an additional 129 shares during the quarter. Accenture accounts for approximately 1.8% of Cobiz Wealth LLC’s holdings, making the stock its 16th biggest holding. Cobiz Wealth LLC’s holdings in Accenture were worth $9,194,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Accenture in the 1st quarter valued at $27,000. Valley National Advisers Inc. raised its stake in shares of Accenture by 70.2% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 73 shares in the last quarter. Focused Wealth Management Inc raised its stake in shares of Accenture by 100.0% in the 4th quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Accenture in the 4th quarter valued at $42,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Accenture in the 1st quarter valued at $52,000. Institutional investors own 70.14% of the company’s stock.
In other Accenture news, COO Johan Deblaere sold 3,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $175.80, for a total transaction of $527,400.00. Following the sale, the chief operating officer now owns 74,937 shares of the company’s stock, valued at approximately $13,173,924.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 1,172 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $155.00, for a total transaction of $181,660.00. Following the sale, the insider now directly owns 36,337 shares in the company, valued at approximately $5,632,235. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,398 shares of company stock worth $1,870,285. Insiders own 0.18% of the company’s stock.
Shares of Accenture stock opened at $178.61 on Friday. The stock has a market cap of $120.02 billion, a P/E ratio of 26.50, a PEG ratio of 2.38 and a beta of 1.12. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $180.00.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.16. The business had revenue of $10.45 billion during 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. Analysts expect that Accenture Plc will post 7.3 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be issued a dividend of $1.46 per share. This represents a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 43.32%.
A number of brokerages have recently issued reports on ACN. Credit Suisse Group set a $170.00 price objective on shares of Accenture and gave the company a “hold” rating in a research note on Tuesday, April 9th. Berenberg Bank restated a “buy” rating and issued a $190.00 price objective on shares of Accenture in a research note on Monday, April 1st. William Blair restated an “outperform” rating on shares of Accenture in a research note on Friday, March 29th. BMO Capital Markets increased their target price on shares of Accenture to $185.00 and gave the stock a “market perform” rating in a research report on Friday, March 29th. Finally, SunTrust Banks increased their target price on shares of Accenture to $180.00 and gave the stock a “hold” rating in a research report on Friday, March 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $183.58.
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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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