Walled Lake Planning & Wealth Management LLC trimmed its stake in Accenture plc (NYSE:ACN – Get Rating) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,683 shares of the information technology services provider’s stock after selling 255 shares during the quarter. Accenture comprises 2.3% of Walled Lake Planning & Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Accenture were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of ACN. OLD Mission Capital LLC acquired a new position in Accenture in the third quarter worth approximately $223,000. New World Advisors LLC acquired a new position in Accenture in the third quarter worth approximately $341,000. Alliancebernstein L.P. increased its holdings in Accenture by 1.9% in the third quarter. Alliancebernstein L.P. now owns 894,213 shares of the information technology services provider’s stock worth $286,077,000 after buying an additional 16,353 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Accenture by 64.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 31,319 shares of the information technology services provider’s stock worth $10,021,000 after buying an additional 12,237 shares during the last quarter. Finally, Principal Street Partners LLC acquired a new position in Accenture in the third quarter worth approximately $276,000. 74.46% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on ACN. Stifel Nicolaus lowered their price target on Accenture from $440.00 to $368.00 in a report on Thursday, March 17th. StockNews.com began coverage on Accenture in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research downgraded Accenture from a “buy” rating to a “hold” rating and set a $323.00 price target on the stock. in a report on Tuesday, March 15th. BMO Capital Markets lowered their price target on Accenture from $460.00 to $385.00 in a report on Friday, March 18th. Finally, Royal Bank of Canada increased their price target on Accenture from $430.00 to $435.00 and gave the company an “outperform” rating in a report on Friday, March 18th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $383.35.
Accenture (NYSE:ACN – Get Rating) last issued its earnings results on Thursday, March 17th. The information technology services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.36 by $0.18. Accenture had a net margin of 11.28% and a return on equity of 31.16%. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $14.67 billion. During the same quarter in the previous year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities analysts forecast that Accenture plc will post 10.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Thursday, April 14th were paid a $0.97 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $3.88 annualized dividend and a dividend yield of 1.35%. Accenture’s dividend payout ratio is presently 39.11%.
In related news, General Counsel Joel Unruch sold 470 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $315.06, for a total transaction of $148,078.20. Following the transaction, the general counsel now owns 26,427 shares in the company, valued at approximately $8,326,090.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 3,287 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the transaction, the chief executive officer now owns 19,836 shares in the company, valued at approximately $6,252,703.92. The disclosure for this sale can be found here. Insiders sold a total of 10,757 shares of company stock worth $3,386,681 in the last 90 days. 0.07% of the stock is owned by corporate insiders.
About Accenture (Get Rating)
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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