Prentice Wealth Management LLC increased its position in Accenture plc (NYSE:ACN) by 46.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 880 shares of the information technology services provider’s stock after buying an additional 281 shares during the quarter. Prentice Wealth Management LLC’s holdings in Accenture were worth $259,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in ACN. OLD Mission Capital LLC bought a new stake in Accenture in the 3rd quarter worth approximately $223,000. Bank of Nova Scotia increased its stake in Accenture by 0.8% in the 1st quarter. Bank of Nova Scotia now owns 16,933 shares of the information technology services provider’s stock worth $4,678,000 after purchasing an additional 127 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in Accenture by 7.1% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,518 shares of the information technology services provider’s stock worth $696,000 after purchasing an additional 168 shares during the period. Reynders McVeigh Capital Management LLC increased its stake in Accenture by 21.0% in the 1st quarter. Reynders McVeigh Capital Management LLC now owns 4,062 shares of the information technology services provider’s stock worth $1,122,000 after purchasing an additional 704 shares during the period. Finally, Meridian Wealth Advisors LLC purchased a new position in Accenture in the 1st quarter worth approximately $475,000. Institutional investors own 73.20% of the company’s stock.
Shares of NYSE:ACN traded up $1.73 during midday trading on Tuesday, reaching $334.02. 13,018 shares of the company’s stock traded hands, compared to its average volume of 1,930,227. The company has a market cap of $211.99 billion, a price-to-earnings ratio of 37.17, a P/E/G ratio of 3.48 and a beta of 1.11. Accenture plc has a one year low of $210.42 and a one year high of $345.52. The stock has a 50 day moving average of $327.18 and a 200 day moving average of $299.06.
The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Thursday, July 15th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Wednesday, July 14th. Accenture’s dividend payout ratio is 47.18%.
A number of brokerages have commented on ACN. Exane BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 23rd. Stifel Nicolaus boosted their target price on Accenture from $305.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, June 24th. Robert W. Baird reissued a “hold” rating on shares of Accenture in a research note on Sunday. Redburn Partners raised Accenture from a “neutral” rating to a “buy” rating and set a $318.65 target price on the stock in a research note on Monday, July 26th. Finally, Morgan Stanley boosted their target price on Accenture from $330.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, September 10th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $326.53.
In other Accenture news, insider Ellyn Shook sold 2,600 shares of the stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $317.47, for a total value of $825,422.00. Following the transaction, the insider now owns 19,420 shares of the company’s stock, valued at $6,165,267.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jean-Marc Ollagnier sold 581 shares of the stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $293.46, for a total value of $170,500.26. Following the completion of the transaction, the insider now directly owns 172,422 shares in the company, valued at approximately $50,598,960.12. The disclosure for this sale can be found here. In the last three months, insiders sold 19,993 shares of company stock worth $6,194,020. 0.07% of the stock is owned by corporate insiders.
Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.
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