Stanley Laman Group Ltd. reduced its position in Accenture plc (NYSE:ACN) by 35.2% 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 982 shares of the information technology services provider’s stock after selling 534 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Accenture were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Better Money Decisions LLC bought a new position in shares of Accenture during the first quarter worth $29,000. Cowa LLC bought a new position in shares of Accenture during the fourth quarter worth $31,000. Wealthcare Capital Management LLC bought a new position in shares of Accenture during the first quarter worth $33,000. Key Financial Inc bought a new position in shares of Accenture during the fourth quarter worth $36,000. Finally, Capstone Triton Financial Group LLC bought a new position in Accenture during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
In other Accenture news, insider Ellyn Shook sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $290.21, for a total transaction of $754,546.00. Following the completion of the transaction, the insider now directly owns 20,589 shares of the company’s stock, valued at approximately $5,975,133.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 873 shares of the firm’s stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $287.78, for a total transaction of $251,231.94. Following the transaction, the general counsel now directly owns 27,166 shares of the company’s stock, valued at $7,817,831.48. The disclosure for this sale can be found here. Insiders sold a total of 30,629 shares of company stock valued at $8,721,835 over the last quarter. 0.07% of the stock is owned by company insiders.
Accenture (NYSE:ACN) last released its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.13. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The business had revenue of $12.09 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same period last year, the business earned $1.91 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Accenture plc will post 8.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Thursday, April 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Wednesday, April 14th. Accenture’s dividend payout ratio is currently 47.18%.
Several equities analysts have commented on ACN shares. Berenberg Bank increased their price objective 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. Robert W. Baird reiterated a “hold” rating on shares of Accenture in a research report on Thursday, May 6th. 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 research note on Wednesday, March 24th. Royal Bank of Canada increased their target price on shares of Accenture from $278.00 to $301.00 in a research note on Friday, March 19th. Finally, BMO Capital Markets increased their target price on shares of Accenture from $292.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, March 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $276.05.
Accenture Company 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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