Tudor Financial Inc. increased its position in shares of Accenture PLC (NYSE:ACN – Free Report) by 45.1% during the 2nd quarter, Holdings Channel reports. The firm owned 10,360 shares of the information technology services provider’s stock after acquiring an additional 3,222 shares during the period. Tudor Financial Inc.’s holdings in Accenture were worth $1,289,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after purchasing an additional 4,905 shares during the period. Sivia Capital Partners LLC raised its position in shares of Accenture by 46.9% during the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after buying an additional 660 shares during the last quarter. United Bank lifted its holdings in shares of Accenture by 49.8% in the second quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock worth $1,088,000 after buying an additional 1,209 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Accenture by 23.0% during the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock worth $247,000 after acquiring an additional 155 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in Accenture by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock valued at $528,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Accenture Stock Performance
Shares of NYSE:ACN opened at $193.19 on Friday. The firm has a 50 day moving average of $160.77 and a 200 day moving average of $176.79. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $129.01 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09.
Accenture declared that its board has initiated a stock buyback program on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Accenture Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 9th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, July 9th. Accenture’s dividend payout ratio is presently 52.08%.
Insider Buying and Selling at Accenture
In other news, General Counsel Joel Unruch sold 10,498 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the sale, the general counsel directly owned 17,735 shares in the company, valued at approximately $2,890,450.30. This trade represents a 37.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Susquehanna decreased their price target on shares of Accenture from $186.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Citigroup lifted their price objective on shares of Accenture from $135.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, August 24th. Morgan Stanley cut their target price on Accenture from $177.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Monday, June 22nd. TD Cowen increased their price objective on shares of Accenture from $151.00 to $173.00 and gave the stock a “hold” rating in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company lowered their target price on shares of Accenture from $200.00 to $194.00 and set an “overweight” rating for the company in a research note on Monday, July 20th. Twelve 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $194.19.
Check Out Our Latest Analysis on Accenture
Accenture 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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