Altium Wealth Management LLC Purchases 259 Shares of Accenture Plc (NYSE:ACN)

Altium Wealth Management LLC increased its position in shares of Accenture Plc (NYSE:ACN) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,011 shares of the information technology services provider’s stock after buying an additional 259 shares during the period. Altium Wealth Management LLC’s holdings in Accenture were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers National Bank grew its position in Accenture by 6.2% in the second quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock valued at $171,000 after acquiring an additional 54 shares during the period. Pegasus Asset Management Inc. grew its position in Accenture by 0.4% in the third quarter. Pegasus Asset Management Inc. now owns 16,876 shares of the information technology services provider’s stock valued at $3,246,000 after acquiring an additional 60 shares during the period. Benjamin Edwards Inc. grew its position in Accenture by 11.0% in the third quarter. Benjamin Edwards Inc. now owns 614 shares of the information technology services provider’s stock valued at $118,000 after acquiring an additional 61 shares during the period. Domani Wealth LLC grew its position in Accenture by 0.7% in the third quarter. Domani Wealth LLC now owns 9,836 shares of the information technology services provider’s stock valued at $1,892,000 after acquiring an additional 65 shares during the period. Finally, Dowling & Yahnke LLC grew its position in Accenture by 0.3% in the third quarter. Dowling & Yahnke LLC now owns 19,713 shares of the information technology services provider’s stock valued at $3,792,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.

Shares of ACN traded up $0.70 during trading hours on Friday, hitting $209.68. 739,121 shares of the stock traded hands, compared to its average volume of 2,372,618. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.17. Accenture Plc has a 1-year low of $147.24 and a 1-year high of $213.25. The firm has a market capitalization of $132.38 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The business has a fifty day moving average of $206.58 and a 200-day moving average of $195.61.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.10. Accenture had a return on equity of 33.35% and a net margin of 11.06%. The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $11.15 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Accenture Plc will post 7.82 earnings per share for the current fiscal year.

The company also recently declared a semi-annual dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a dividend of $0.80 per share. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, January 15th. Accenture’s dividend payout ratio (DPR) is presently 43.48%.

A number of analysts have weighed in on ACN shares. KeyCorp upped their price target on Accenture from $208.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. ValuEngine cut Accenture from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Redburn Partners began coverage on Accenture in a report on Monday, September 23rd. They set a “buy” rating and a $227.00 target price on the stock. Barclays began coverage on Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 target price on the stock. Finally, Citigroup increased their target price on Accenture from $211.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $212.18.

In other Accenture news, insider Daniel T. London sold 5,421 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $185.69, for a total value of $1,006,625.49. Following the transaction, the insider now owns 31,698 shares of the company’s stock, valued at $5,886,001.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 804 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $186.68, for a total value of $150,090.72. The disclosure for this sale can be found here. Insiders have sold 37,014 shares of company stock worth $6,859,750 in the last ninety days. 0.10% of the stock is currently owned by insiders.

Accenture Company Profile

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.

Further Reading: Correction

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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