State of Alaska Department of Revenue Decreases Position in Accenture Plc (NYSE:ACN)

State of Alaska Department of Revenue cut its position in shares of Accenture Plc (NYSE:ACN) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,752 shares of the information technology services provider’s stock after selling 7,475 shares during the quarter. State of Alaska Department of Revenue’s holdings in Accenture were worth $16,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hexavest Inc. raised its stake in shares of Accenture by 8.7% during the first quarter. Hexavest Inc. now owns 636,370 shares of the information technology services provider’s stock valued at $112,014,000 after purchasing an additional 50,954 shares in the last quarter. Somerset Trust Co grew its holdings in Accenture by 1.0% during the first quarter. Somerset Trust Co now owns 10,987 shares of the information technology services provider’s stock worth $1,934,000 after acquiring an additional 106 shares during the period. Joel Isaacson & Co. LLC acquired a new position in Accenture during the first quarter worth about $207,000. Aries Wealth Management acquired a new position in Accenture during the first quarter worth about $385,000. Finally, Washington Trust Bank grew its holdings in Accenture by 25.2% during the first quarter. Washington Trust Bank now owns 1,003 shares of the information technology services provider’s stock worth $176,000 after acquiring an additional 202 shares during the period. Hedge funds and other institutional investors own 70.14% of the company’s stock.

ACN traded up $0.13 on Wednesday, hitting $179.20. The company had a trading volume of 592,078 shares, compared to its average volume of 2,171,418. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $179.90. The firm has a market cap of $120.90 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.16. The firm had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.30 billion. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. On average, research analysts expect that Accenture Plc will post 7.3 EPS for the current year.

The company also recently disclosed 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 is presently 43.32%.

A number of equities analysts recently weighed in on ACN shares. William Blair reissued an “outperform” rating on shares of Accenture in a research note on Friday, March 29th. Berenberg Bank reissued a “buy” rating and issued a $190.00 price target on shares of Accenture in a research note on Monday, April 1st. KeyCorp reissued a “buy” rating and issued a $173.00 price target on shares of Accenture in a research note on Friday, December 21st. Credit Suisse Group set a $170.00 price target on Accenture and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Finally, ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $183.58.

In other Accenture news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $148.48, for a total value of $296,960.00. Following the sale, the insider now directly owns 134,181 shares in the company, valued at $19,923,194.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Johan Deblaere sold 3,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $175.80, for a total value of $527,400.00. Following the completion of the transaction, the chief operating officer now directly owns 74,937 shares in the company, valued at approximately $13,173,924.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,314 shares of company stock worth $2,604,645. 0.18% of the stock is currently owned by company insiders.

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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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