Keudell Morrison Wealth Management raised its holdings in Accenture Plc (NYSE:ACN) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,247 shares of the information technology services provider’s stock after acquiring an additional 47 shares during the period. Keudell Morrison Wealth Management’s holdings in Accenture were worth $912,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ACN. BlackRock Inc. increased its holdings in Accenture by 0.5% in the first quarter. BlackRock Inc. now owns 45,176,930 shares of the information technology services provider’s stock worth $7,375,586,000 after purchasing an additional 222,548 shares in the last quarter. State Street Corp boosted its position in Accenture by 0.9% in the first quarter. State Street Corp now owns 26,989,659 shares of the information technology services provider’s stock worth $4,406,390,000 after purchasing an additional 235,852 shares during the last quarter. Capital Research Global Investors boosted its position in Accenture by 2.4% in the first quarter. Capital Research Global Investors now owns 15,026,818 shares of the information technology services provider’s stock worth $2,453,285,000 after purchasing an additional 355,755 shares during the last quarter. Geode Capital Management LLC boosted its position in Accenture by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 10,540,443 shares of the information technology services provider’s stock worth $2,215,995,000 after purchasing an additional 165,557 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in Accenture by 4.7% in the first quarter. WCM Investment Management LLC now owns 7,140,160 shares of the information technology services provider’s stock worth $1,165,702,000 after purchasing an additional 320,253 shares during the last quarter. 73.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on ACN shares. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 3rd. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating and set a $196.00 target price on the stock. in a research note on Wednesday, April 15th. Susquehanna Bancshares upped their target price on Accenture from $225.00 to $250.00 in a research note on Friday, June 26th. Deutsche Bank upped their target price on Accenture from $215.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, Societe Generale upgraded Accenture to a “buy” rating and set a $205.00 price objective on the stock in a research report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Accenture has an average rating of “Buy” and a consensus target price of $219.44.

In other news, CEO Gianfranco Casati sold 3,682 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $180.00, for a total transaction of $662,760.00. Following the sale, the chief executive officer now directly owns 26,014 shares of the company’s stock, valued at approximately $4,682,520. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David Rowland sold 5,405 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total transaction of $999,925.00. Following the sale, the chairman now directly owns 17,199 shares in the company, valued at $3,181,815. The disclosure for this sale can be found here. Insiders have sold a total of 26,847 shares of company stock worth $4,939,033 over the last ninety days. 0.10% of the stock is owned by insiders.

Accenture stock traded up $3.42 during mid-day trading on Tuesday, reaching $219.16. 83,417 shares of the company were exchanged, compared to its average volume of 2,278,156. The business has a fifty day moving average of $207.67 and a 200 day moving average of $193.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $140.26 billion, a P/E ratio of 28.25, a PEG ratio of 2.89 and a beta of 1.07. Accenture Plc has a 12-month low of $137.15 and a 12-month high of $221.87.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Accenture had a return on equity of 31.51% and a net margin of 11.11%. The company had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.89 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. Accenture’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts predict that Accenture Plc will post 7.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, July 15th. Accenture’s payout ratio is 43.48%.

About Accenture

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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