Ridgewood Investments LLC cut its stake in Accenture Plc (NYSE:ACN) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,541 shares of the information technology services provider’s stock after selling 100 shares during the quarter. Ridgewood Investments LLC’s holdings in Accenture were worth $271,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Accenture by 115,500.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock valued at $1,739,880,000 after purchasing an additional 10,213,711 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Accenture in the 3rd quarter valued at $525,000. Man Group plc grew its holdings in Accenture by 20.7% in the 3rd quarter. Man Group plc now owns 127,828 shares of the information technology services provider’s stock valued at $21,756,000 after buying an additional 21,904 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Accenture in the 3rd quarter valued at $1,165,000. Finally, Thrivent Financial for Lutherans grew its holdings in Accenture by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 57,690 shares of the information technology services provider’s stock valued at $9,819,000 after buying an additional 970 shares in the last quarter. 70.14% of the stock is owned by institutional investors.
ACN stock opened at $179.06 on Wednesday. The stock has a market capitalization of $120.32 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.38 and a beta of 1.12. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $179.90.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a dividend of $1.46 per share. This represents a dividend yield of 1.66%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
In other news, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $148.48, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ellyn Shook sold 1,172 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $155.00, for a total value of $181,660.00. Following the sale, the insider now directly owns 36,337 shares in the company, valued at approximately $5,632,235. The disclosure for this sale can be found here. Insiders have sold a total of 16,314 shares of company stock worth $2,604,645 in the last three months. Corporate insiders own 0.18% of the company’s stock.
Several brokerages have issued reports on ACN. Credit Suisse Group set a $170.00 target price on Accenture and gave the company a “hold” rating in a report on Tuesday, April 9th. BMO Capital Markets raised their target price on Accenture to $185.00 and gave the company a “market perform” rating in a report on Friday, March 29th. William Blair restated an “outperform” rating on shares of Accenture in a report on Friday, March 29th. Berenberg Bank restated a “buy” rating and set a $190.00 target price on shares of Accenture in a report on Monday, April 1st. Finally, SunTrust Banks raised their target price on Accenture to $180.00 and gave the company a “hold” rating in a report 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. The company presently has an average rating of “Buy” and a consensus target price of $183.58.
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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