Accenture PLC $ACN Shares Acquired by Resources Management Corp CT ADV

Key Points

• Resources Management Corp CT ADV boosted its Accenture stake by 230.7% in the fourth quarter, buying 35,844 more shares and bringing its total holdings to 51,381 shares worth about $13.8 million.
• Accenture reported better-than-expected quarterly results, with $2.93 EPS versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• Analysts remain cautiously positive on the stock overall, with a “Moderate Buy” consensus and a target price of $257.56, even as several firms trimmed their price targets recently.

Resources Management Corp CT ADV increased its stake in Accenture PLC (NYSE:ACN - Free Report) by 230.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,381 shares of the information technology services provider's stock after buying an additional 35,844 shares during the quarter. Accenture comprises 1.8% of Resources Management Corp CT ADV's portfolio, making the stock its 13th largest position. Resources Management Corp CT ADV's holdings in Accenture were worth $13,786,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Accenture in the third quarter worth about $26,000. Board of the Pension Protection Fund acquired a new position in shares of Accenture in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of Accenture in the fourth quarter worth about $27,000. McMillan Office Inc. acquired a new position in shares of Accenture in the fourth quarter worth about $27,000. Finally, Private Wealth Management Group LLC lifted its stake in shares of Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Activity at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares of the company's stock, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ACN shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Accenture in a research note on Tuesday, June 9th. Royal Bank Of Canada cut their price target on Accenture from $295.00 to $253.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft cut their price target on Accenture from $210.00 to $199.00 and set a "hold" rating on the stock in a research note on Tuesday, June 2nd. Citigroup lowered their price objective on Accenture from $215.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, June 1st. Finally, UBS Group reissued a "buy" rating on shares of Accenture in a report on Tuesday, March 17th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.56.

Accenture Stock Down 0.2%

NYSE:ACN opened at $169.95 on Monday. The firm has a market capitalization of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The stock has a 50 day moving average of $181.79 and a 200-day moving average of $221.68. Accenture PLC has a 52 week low of $155.82 and a 52 week high of $317.30. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 earnings per share. Analysts predict that Accenture PLC will post 13.84 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 annualized dividend and a dividend yield of 3.8%. Accenture's dividend payout ratio is 53.40%.

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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