Canandaigua National Corp lowered its position in Accenture plc (NYSE:ACN) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,425 shares of the information technology services provider’s stock after selling 240 shares during the period. Accenture makes up approximately 1.0% of Canandaigua National Corp’s investment portfolio, making the stock its 26th biggest holding. Canandaigua National Corp’s holdings in Accenture were worth $5,919,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACN. Cowa LLC bought a new stake in Accenture in the fourth quarter worth about $31,000. Key Financial Inc bought a new stake in Accenture in the fourth quarter worth about $36,000. Capstone Triton Financial Group LLC bought a new stake in Accenture in the fourth quarter worth about $38,000. Freedman Financial Associates Inc. bought a new stake in shares of Accenture during the fourth quarter valued at approximately $38,000. Finally, MD Financial Management Inc. bought a new stake in shares of Accenture during the fourth quarter valued at approximately $44,000. 70.99% of the stock is owned by institutional investors and hedge funds.
In other Accenture news, COO Johan Deblaere sold 8,000 shares of the company’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $280.00, for a total value of $2,240,000.00. Following the completion of the transaction, the chief operating officer now owns 52,579 shares in the company, valued at $14,722,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Richard P. Clark sold 3,115 shares of the company’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $255.85, for a total transaction of $796,972.75. Following the completion of the transaction, the chief accounting officer now owns 18,705 shares of the company’s stock, valued at approximately $4,785,674.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,482 shares of company stock valued at $10,186,569. Insiders own 0.07% of the company’s stock.
NYSE:ACN traded up $2.27 during mid-day trading on Thursday, hitting $284.84. The company’s stock had a trading volume of 14,306 shares, compared to its average volume of 2,154,414. Accenture plc has a 1 year low of $165.07 and a 1 year high of $283.63. The stock has a market cap of $181.21 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 3.09 and a beta of 1.08. The business’s fifty day moving average is $263.45 and its two-hundred day moving average is $248.56.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.90 by $0.13. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The company had revenue of $12.09 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Accenture plc will post 8.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.24%. Accenture’s dividend payout ratio (DPR) is currently 47.18%.
Several research firms have recently weighed in on ACN. Piper Sandler lifted their price target on shares of Accenture from $210.00 to $282.00 and gave the company a “neutral” rating in a research note on Friday, December 18th. Berenberg Bank lifted their price target on shares of Accenture from $258.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 2nd. Smith Barney Citigroup lifted their price target on shares of Accenture from $265.00 to $303.00 in a research note on Friday, December 18th. Wells Fargo & Company initiated coverage on shares of Accenture in a research note on Friday, December 18th. They set an “equal weight” rating for the company. Finally, Barclays boosted their price objective on shares of Accenture from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $267.96.
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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