Simmons Bank reduced its stake in Accenture PLC (NYSE:ACN – Free Report) by 76.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,708 shares of the information technology services provider’s stock after selling 12,023 shares during the period. Simmons Bank’s holdings in Accenture were worth $735,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Continuum Advisory LLC boosted its stake in Accenture by 9.8% in the 1st quarter. Continuum Advisory LLC now owns 1,024 shares of the information technology services provider’s stock worth $203,000 after purchasing an additional 91 shares during the period. Tred Avon Family Wealth LLC bought a new stake in shares of Accenture during the first quarter valued at about $261,000. Coston McIsaac & Partners lifted its holdings in shares of Accenture by 17.2% in the first quarter. Coston McIsaac & Partners now owns 2,083 shares of the information technology services provider’s stock worth $413,000 after buying an additional 305 shares in the last quarter. Aspire Private Capital LLC boosted its position in shares of Accenture by 5.1% in the first quarter. Aspire Private Capital LLC now owns 5,770 shares of the information technology services provider’s stock valued at $1,144,000 after acquiring an additional 282 shares during the period. Finally, Matrix Asset Advisors Inc. NY boosted its position in shares of Accenture by 67.7% in the first quarter. Matrix Asset Advisors Inc. NY now owns 33,007 shares of the information technology services provider’s stock valued at $6,545,000 after acquiring an additional 13,328 shares during the period. 75.14% of the stock is currently owned by institutional investors.
Accenture Price Performance
Shares of NYSE:ACN opened at $124.48 on Wednesday. The company’s fifty day moving average price is $167.78 and its 200-day moving average price is $211.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $83.13 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.23 and a beta of 1.08. Accenture PLC has a one year low of $118.15 and a one year high of $307.77.
Accenture announced that its board has authorized a stock buyback plan on Tuesday, June 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Accenture Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, July 9th. Accenture’s dividend payout ratio is currently 52.08%.
Insider Buying and Selling
In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. DA Davidson decreased their target price on shares of Accenture from $275.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. UBS Group restated a “buy” rating on shares of Accenture in a research report on Tuesday, June 16th. Berenberg Bank decreased their price target on shares of Accenture from $273.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Royal Bank Of Canada dropped their price objective on Accenture from $253.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, June 22nd. Finally, Dbs Bank cut Accenture from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Accenture currently has an average rating of “Hold” and an average price target of $195.00.
Check Out Our Latest Stock Report on ACN
Accenture Company Profile
Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.
The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.
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