Murphy Pohlad Asset Management LLC Sells 200 Shares of Accenture plc (NYSE:ACN)

Murphy Pohlad Asset Management LLC trimmed its stake in shares of Accenture plc (NYSE:ACN) by 16.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Accenture were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ACN. Slow Capital Inc. raised its holdings in Accenture by 0.5% in the 4th quarter. Slow Capital Inc. now owns 8,018 shares of the information technology services provider’s stock valued at $2,094,000 after acquiring an additional 39 shares during the period. Citizens & Northern Corp raised its holdings in Accenture by 0.7% in the 4th quarter. Citizens & Northern Corp now owns 5,847 shares of the information technology services provider’s stock valued at $1,527,000 after acquiring an additional 43 shares during the period. Syntal Capital Partners LLC raised its holdings in Accenture by 0.7% in the 4th quarter. Syntal Capital Partners LLC now owns 6,168 shares of the information technology services provider’s stock valued at $1,611,000 after acquiring an additional 43 shares during the period. SRS Capital Advisors Inc. raised its holdings in Accenture by 3.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,547 shares of the information technology services provider’s stock valued at $404,000 after acquiring an additional 45 shares during the period. Finally, Chilton Investment Co. LLC raised its holdings in Accenture by 4.1% in the 4th quarter. Chilton Investment Co. LLC now owns 1,180 shares of the information technology services provider’s stock valued at $308,000 after acquiring an additional 46 shares during the period. 70.99% of the stock is owned by institutional investors and hedge funds.

In other Accenture news, CAO Richard P. Clark sold 3,247 shares of Accenture stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $248.63, for a total transaction of $807,301.61. Also, insider Ellyn Shook sold 2,600 shares of Accenture stock in a transaction that occurred on Friday, January 22nd. The stock was sold at an average price of $255.40, for a total transaction of $664,040.00. Following the transaction, the insider now directly owns 25,412 shares in the company, valued at approximately $6,490,224.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,558 shares of company stock worth $11,992,586. 0.07% of the stock is owned by insiders.

NYSE ACN traded down $0.09 during mid-day trading on Thursday, reaching $290.63. 30,685 shares of the stock were exchanged, compared to its average volume of 2,114,397. Accenture plc has a one year low of $169.21 and a one year high of $291.15. The stock has a 50 day simple moving average of $272.24 and a 200-day simple moving average of $252.84. The stock has a market cap of $184.89 billion, a P/E ratio of 35.95, a P/E/G ratio of 3.09 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share 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 firm had revenue of $12.09 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Accenture plc will post 8.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be given a $0.88 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $3.52 annualized dividend and a yield of 1.21%. Accenture’s payout ratio is 47.18%.

Several research analysts have recently commented on the stock. Bank of America raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Wednesday, March 24th. Susquehanna Bancshares increased their price target on shares of Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a research report on Friday, March 19th. BMO Capital Markets increased their price target on shares of Accenture from $292.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, March 25th. Berenberg Bank raised their target price on shares of Accenture from $258.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Finally, Royal Bank of Canada raised their target price on shares of Accenture from $278.00 to $301.00 in a research report on Friday, March 19th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and a consensus target price of $276.05.

Accenture Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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