Louisiana State Employees Retirement System grew its position in shares of Accenture Plc (NYSE:ACN) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,700 shares of the information technology services provider’s stock after purchasing an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Accenture were worth $5,932,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in ACN. Oregon Public Employees Retirement Fund boosted its stake in shares of Accenture by 10,215.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 24,435,584 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Accenture by 115,500.5% in the third quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after acquiring an additional 10,213,711 shares during the period. Norges Bank acquired a new position in shares of Accenture in the fourth quarter worth approximately $825,602,000. FMR LLC lifted its stake in shares of Accenture by 48.1% in the fourth quarter. FMR LLC now owns 6,830,316 shares of the information technology services provider’s stock worth $963,143,000 after acquiring an additional 2,217,910 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Accenture in the third quarter worth approximately $354,668,000. 70.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on ACN. Credit Suisse Group set a $170.00 price objective on Accenture and gave the stock a “hold” rating in a research note on Tuesday, April 9th. BMO Capital Markets lifted their price objective on Accenture to $185.00 and gave the stock a “market perform” rating in a research note on Friday, March 29th. William Blair reaffirmed an “outperform” rating on shares of Accenture in a research note on Friday, March 29th. Berenberg Bank reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Accenture in a research note on Monday, April 1st. Finally, SunTrust Banks lifted their price objective on Accenture to $180.00 and gave the stock a “hold” rating in a research note on Friday, March 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and a consensus target price of $183.58.
In other news, CFO David Rowland sold 2,916 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $150.00, for a total transaction of $437,400.00. Following the completion of the sale, the chief financial officer now owns 30,250 shares in the company, valued at $4,537,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $148.48, for a total value of $296,960.00. Following the sale, the insider now owns 134,181 shares of the company’s stock, valued at approximately $19,923,194.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,314 shares of company stock worth $2,604,645. Insiders own 0.18% of the company’s stock.
Shares of ACN opened at $179.06 on Wednesday. Accenture Plc has a 52-week low of $132.63 and a 52-week high of $179.90. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.16. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The firm had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Accenture Plc will post 7.3 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a $1.46 dividend. This represents a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
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Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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