Eley Financial Management Inc cut its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 61.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,303 shares of the information technology services provider’s stock after selling 8,462 shares during the period. Eley Financial Management Inc’s holdings in Accenture were worth $1,051,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ACN. Brighton Jones LLC increased its holdings in Accenture by 36.2% during the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after acquiring an additional 4,905 shares during the period. Sivia Capital Partners LLC boosted its holdings in Accenture by 46.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after purchasing an additional 660 shares during the period. United Bank boosted its holdings in Accenture by 49.8% in the 2nd quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock valued at $1,088,000 after purchasing an additional 1,209 shares during the period. Bank of Nova Scotia grew its position in shares of Accenture by 23.0% during the 2nd quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock valued at $247,000 after purchasing an additional 155 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Accenture by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock worth $528,000 after purchasing an additional 72 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.
Accenture Price Performance
ACN stock opened at $163.70 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09. The firm’s fifty day moving average is $152.82 and its 200 day moving average is $191.29. The firm has a market cap of $109.32 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.79 and a beta of 1.13.
Accenture announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Accenture Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 9th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture’s payout ratio is 52.08%.
Wall Street Analyst Weigh In
ACN has been the subject of several research analyst reports. Robert W. Baird set a $190.00 price objective on Accenture in a research note on Thursday, June 18th. Morgan Stanley lowered their price target on Accenture from $177.00 to $130.00 and set an “equal weight” rating on the stock in a report on Monday, June 22nd. Mizuho dropped their price target on Accenture from $280.00 to $226.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $136.00 price objective on shares of Accenture in a research report on Friday, July 10th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Accenture in a research note on Tuesday, June 16th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $192.96.
Check Out Our Latest 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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