Park National Corp OH lowered its stake in Accenture Plc (NYSE:ACN) by 15.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,555 shares of the information technology services provider’s stock after selling 2,694 shares during the quarter. Park National Corp OH’s holdings in Accenture were worth $2,562,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. increased its holdings in shares of Accenture by 70.2% during the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after buying an additional 73 shares during the last quarter. Focused Wealth Management Inc increased its holdings in Accenture by 100.0% in the 4th quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Accenture in the 4th quarter valued at $42,000. Hanson McClain Inc. increased its holdings in Accenture by 28.4% in the 4th quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 75 shares in the last quarter. Finally, WealthTrust Arizona LLC increased its holdings in Accenture by 25.1% in the 4th quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock valued at $51,000 after purchasing an additional 72 shares in the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ACN traded up $0.33 on Wednesday, reaching $180.81. The stock had a trading volume of 1,359,624 shares, compared to its average volume of 1,976,415. The stock has a market cap of $120.10 billion, a P/E ratio of 26.83, a PEG ratio of 2.37 and a beta of 1.12. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $181.41.
The business also recently declared 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. The ex-dividend date is Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s payout ratio is 43.32%.
In other news, CEO David Rowland sold 2,883 shares of the stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $151.75, for a total transaction of $437,495.25. Following the transaction, the chief executive officer now owns 27,367 shares of the company’s stock, valued at $4,152,942.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 1,172 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $155.00, for a total transaction of $181,660.00. Following the transaction, the insider now directly owns 36,337 shares in the company, valued at approximately $5,632,235. The disclosure for this sale can be found here. Insiders have sold 35,974 shares of company stock worth $6,254,588 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.
ACN has been the subject of several recent research reports. BMO Capital Markets increased their price target on Accenture to $185.00 and gave the company a “market perform” rating in a report on Friday, March 29th. Robert W. Baird increased their price target on Accenture from $174.00 to $182.00 and gave the company a “neutral” rating in a report on Friday, March 29th. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price target for the company in a report on Tuesday, January 8th. They noted that the move was a valuation call. Citigroup upgraded Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $169.00 in a report on Wednesday, January 16th. Finally, SunTrust Banks increased their price target on Accenture to $180.00 and gave the company a “hold” rating in a report on Friday, March 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $183.58.
ILLEGAL ACTIVITY WARNING: This news story was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.baseballdailydigest.com/news/2019/04/24/park-national-corp-oh-lowers-holdings-in-accenture-plc-acn.html.
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: Do Tariffs Work?
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.