Ritholtz Wealth Management grew its holdings in Accenture Plc (NYSE:ACN) by 21.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,656 shares of the information technology services provider’s stock after purchasing an additional 289 shares during the period. Ritholtz Wealth Management’s holdings in Accenture were worth $356,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Total Clarity Wealth Management Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $26,000. HHM Wealth Advisors LLC acquired a new stake in shares of Accenture in the first quarter valued at approximately $29,000. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Accenture by 200.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Finally, Sound Income Strategies LLC acquired a new position in Accenture during the first quarter worth $34,000. Institutional investors own 73.62% of the company’s stock.
In related news, CEO Gianfranco Casati sold 3,682 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $180.00, for a total transaction of $662,760.00. Following the completion of the sale, the chief executive officer now owns 26,014 shares of the company’s stock, valued at $4,682,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David Rowland sold 5,405 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total transaction of $999,925.00. Following the sale, the chairman now directly owns 17,199 shares of the company’s stock, valued at approximately $3,181,815. The disclosure for this sale can be found here. Insiders have sold 26,847 shares of company stock valued at $4,939,033 in the last ninety days. 0.10% of the stock is currently owned by company insiders.
Shares of Accenture stock opened at $219.16 on Thursday. The firm has a 50-day moving average of $208.62 and a 200-day moving average of $193.83. The stock has a market cap of $139.56 billion, a PE ratio of 28.69, a PEG ratio of 2.87 and a beta of 1.07. Accenture Plc has a 52-week low of $137.15 and a 52-week high of $222.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 1.37.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.06. The company had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $10.89 billion. Accenture had a net margin of 11.11% and a return on equity of 31.51%. Accenture’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. Equities research analysts predict that Accenture Plc will post 7.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.20 annualized dividend and a yield of 1.46%. Accenture’s dividend payout ratio is 43.48%.
A number of equities analysts recently weighed in on the stock. Susquehanna Bancshares boosted their target price on shares of Accenture from $225.00 to $250.00 in a report on Friday, June 26th. Bank of America boosted their target price on shares of Accenture from $154.00 to $182.00 and gave the stock an “underperform” rating in a report on Thursday, June 18th. Stifel Nicolaus boosted their target price on shares of Accenture from $184.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, June 19th. Wedbush restated an “outperform” rating on shares of Accenture in a report on Thursday, June 25th. Finally, Exane BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $219.44.
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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