Rockland Trust Co. Has $15.74 Million Position in Accenture PLC $ACN

Key Points

• Rockland Trust increased its Accenture holdings by 23.8% in the second quarter, owning 126,495 shares valued at approximately $15.74 million. Institutional investors and hedge funds collectively own 75.14% of ACN.
• Analyst sentiment is mixed, with 12 Buy ratings, 14 Holds and one Sell; Accenture has an average “Hold” rating and a consensus price target of $192.96. The stock recently opened at $175.49 after trading between $118.15 and $291.09 over the past year.
• Accenture beat quarterly earnings expectations with EPS of $3.80, while revenue rose 5.6% year over year to $18.72 billion. The company also authorized a $2 billion share buyback and announced a quarterly dividend of $1.63 per share.

Rockland Trust Co. increased its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,495 shares of the information technology services provider's stock after buying an additional 24,343 shares during the period. Rockland Trust Co.'s holdings in Accenture were worth $15,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Triumph Capital Management bought a new stake in shares of Accenture in the third quarter worth $26,000. Laurel Wealth Advisors LLC bought a new position in Accenture during the 4th quarter worth $27,000. Dogwood Wealth Management LLC lifted its holdings in Accenture by 147.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider's stock worth $27,000 after buying an additional 128 shares during the period. McMillan Office Inc. bought a new stake in shares of Accenture in the 4th quarter valued at about $27,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Accenture in the fourth quarter valued at about $27,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the completion of the sale, the general counsel owned 17,735 shares in the company, valued at approximately $2,890,450.30. The trade was a 37.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Robert W. Baird set a $190.00 price target on shares of Accenture in a report on Thursday, June 18th. DA Davidson dropped their target price on shares of Accenture from $275.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Argus decreased their price target on Accenture from $335.00 to $220.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Wells Fargo & Company cut their target price on Accenture from $200.00 to $194.00 and set an "overweight" rating on the stock in a research report on Monday, July 20th. Finally, Morgan Stanley dropped their price target on Accenture from $177.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Monday, June 22nd. 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. According to MarketBeat.com, Accenture currently has an average rating of "Hold" and an average price target of $192.96.

Accenture Price Performance

ACN stock opened at $175.49 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. The company's 50-day moving average is $151.64 and its 200-day moving average is $187.15. The stock has a market capitalization of $117.20 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Accenture PLC has a 1 year low of $118.15 and a 1 year high of $291.09.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, June 19th. The information technology services provider reported $3.80 EPS for the quarter, beating analysts' consensus estimates of $3.70 by $0.10. The business had revenue of $18.72 billion during the quarter, compared to analyst estimates of $18.78 billion. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The firm's revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 EPS. Equities research analysts expect that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture announced that its board has authorized a share buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, July 9th. Accenture's dividend payout ratio (DPR) is currently 52.08%.

About Accenture

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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