Accenture Plc (NYSE:ACN) CFO Kathleen R. Mcclure sold 1,125 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $212.15, for a total transaction of $238,668.75. Following the transaction, the chief financial officer now directly owns 23,274 shares in the company, valued at $4,937,579.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of ACN stock traded up $1.60 during trading hours on Tuesday, hitting $214.32. 738,710 shares of the company's stock were exchanged, compared to its average volume of 2,506,215. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The firm has a market cap of $135.06 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.78 and a beta of 1.06. The firm has a 50 day moving average of $199.62 and a two-hundred day moving average of $193.06. Accenture Plc has a fifty-two week low of $137.15 and a fifty-two week high of $217.89.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.84 by $0.06. Accenture had a return on equity of 32.04% and a net margin of 11.11%. The business had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same period in the prior year, the company posted $1.93 EPS. The business's quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Accenture Plc will post 7.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, July 15th. Accenture's payout ratio is 43.48%.
A number of brokerages have issued reports on ACN. Wolfe Research boosted their price objective on shares of Accenture from $165.00 to $220.00 and gave the company a "peer perform" rating in a research report on Friday. Robert W. Baird boosted their price objective on shares of Accenture from $216.00 to $222.00 and gave the company a "neutral" rating in a research report on Friday. UBS Group boosted their price objective on shares of Accenture from $160.00 to $215.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Co downgraded shares of Accenture from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $190.00 to $200.00 in a research report on Thursday, June 18th. They noted that the move was a valuation call. Finally, Wedbush reissued an "outperform" rating on shares of Accenture in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. The company has an average rating of "Buy" and a consensus price target of $219.44.
Institutional investors and hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. purchased a new stake in shares of Accenture during the fourth quarter worth approximately $26,000. Islay Capital Management LLC purchased a new stake in Accenture in the 4th quarter valued at $31,000. Mark Sheptoff Financial Planning LLC grew its holdings in Accenture by 200.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider's stock valued at $32,000 after buying an additional 100 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Accenture in the 4th quarter valued at $34,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Accenture in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 73.64% of the company's stock.
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.
Read More: How does a security become overbought?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Stocks to Buy On Fears of a Second Coronavirus Wave
Ever since the U.S. economy began to re-open (and honestly before that), there was concern over the impending “second wave” of the novel coronavirus. And although the second wave of the virus was not expected to hit until the fall, the concerns have been escalating as case numbers rise in multiple states.
And despite the Trump administration’s vehement statements that the economy would not shut down, we learned on February 25 that Texas was now pausing, and in some cases rolling back, its reopening measures in an effort to stem the spread of the virus.
And this is happening as the Centers for Disease Control (CDC) is now saying that it’s possible that 20 million Americans may have the coronavirus based on a sample of blood tests that are showing who has the antibodies in their system.
For its part, the stock market reacted sharply to the move. It was a move that undoubtedly frustrated many weary investors. In fact, you might be among those that have had just about enough of the Covid-19 market. I understand, I’m there too.
But, institutional investors are forward-looking. And right now, they don’t like what they. So stocks are having another broad selloff.
However, in the midst of any selloff, there is money to be made. And the good news for investors is that many of the same stocks that were good buys in March, are still the stocks to buy right now. And while some of these stocks fit the classic definition of defensive stocks, you’ll find a few genuine growth stocks included on this list as well.
View the "10 Stocks to Buy On Fears of a Second Coronavirus Wave".