Retirement Systems of Alabama increased its holdings in shares of Accenture Plc (NYSE:ACN) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 382,827 shares of the information technology services provider’s stock after purchasing an additional 2,692 shares during the period. Retirement Systems of Alabama’s holdings in Accenture were worth $67,385,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ACN. Louisiana State Employees Retirement System increased its position in shares of Accenture by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,700 shares of the information technology services provider’s stock valued at $5,932,000 after purchasing an additional 300 shares during the last quarter. Tandem Investment Advisors Inc. increased its position in shares of Accenture by 0.3% in the 1st quarter. Tandem Investment Advisors Inc. now owns 49,488 shares of the information technology services provider’s stock valued at $8,711,000 after purchasing an additional 141 shares during the last quarter. American National Bank increased its position in shares of Accenture by 8.7% in the 1st quarter. American National Bank now owns 30,545 shares of the information technology services provider’s stock valued at $5,377,000 after purchasing an additional 2,455 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC increased its position in shares of Accenture by 44.5% in the 1st quarter. Landsberg Bennett & Dubbaneh LLC now owns 27,516 shares of the information technology services provider’s stock valued at $4,876,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of Accenture by 199.3% in the 1st quarter. Virtu Financial LLC now owns 31,286 shares of the information technology services provider’s stock valued at $5,507,000 after purchasing an additional 20,832 shares during the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. KeyCorp increased their price objective on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Credit Suisse Group set a $170.00 target price on shares of Accenture and gave the company a “hold” rating in a research report on Tuesday, April 9th. William Blair reaffirmed an “outperform” rating on shares of Accenture in a research report on Friday, March 29th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $190.00 target price on shares of Accenture in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average target price of $183.58.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.16. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Accenture had a net margin of 10.52% and a return on equity of 38.57%. Accenture’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. As a group, research analysts predict that Accenture Plc will post 7.3 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a dividend of $1.46 per share. This represents a yield of 1.66%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 43.32%.
In related news, CFO David Rowland sold 2,916 shares of the stock in a transaction on Friday, January 18th. The shares were 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 approximately $4,537,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 1,172 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $155.00, for a total transaction of $181,660.00. Following the sale, the insider now owns 36,337 shares of the company’s stock, valued at approximately $5,632,235. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,314 shares of company stock valued at $2,604,645. 0.18% of the stock is owned by company insiders.
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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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