Accenture Plc (ACN) Position Lessened by Busey Wealth Management

Busey Wealth Management cut its holdings in shares of Accenture Plc (NYSE:ACN) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,548 shares of the information technology services provider’s stock after selling 537 shares during the quarter. Accenture comprises 1.3% of Busey Wealth Management’s investment portfolio, making the stock its 26th largest holding. Busey Wealth Management’s holdings in Accenture were worth $14,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in Accenture by 10,215.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock worth $175,000 after purchasing an additional 24,435,584 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Accenture by 115,500.5% during the third quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock valued at $1,739,880,000 after acquiring an additional 10,213,711 shares during the period. Norges Bank acquired a new position in shares of Accenture during the fourth quarter valued at $825,602,000. FMR LLC lifted its stake in shares of Accenture by 48.1% during the fourth quarter. FMR LLC now owns 6,830,316 shares of the information technology services provider’s stock valued at $963,143,000 after acquiring an additional 2,217,910 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Accenture during the third quarter valued at $354,668,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Several equities analysts have recently issued reports on the company. Bank of America lowered Accenture from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 target price on Accenture and gave the company a “hold” rating in a research note on Tuesday, April 9th. Berenberg Bank reissued a “buy” rating and issued a $190.00 target price on shares of Accenture in a research note on Monday, April 1st. William Blair reissued an “outperform” rating on shares of Accenture in a research note on Friday, March 29th. Finally, BMO Capital Markets increased their target price on Accenture to $185.00 and gave the company a “market perform” rating in a research note on Friday, March 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Accenture currently has an average rating of “Buy” and an average target price of $183.58.

In other Accenture news, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total transaction of $1,422,240.00. Following the transaction, the insider now owns 116,753 shares in the company, valued at approximately $20,756,348.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Richard P. Clark sold 6,266 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total value of $1,113,969.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,919 shares of company stock valued at $8,896,852. 0.18% of the stock is currently owned by insiders.

Shares of ACN traded down $0.16 during mid-day trading on Friday, reaching $174.30. The company’s stock had a trading volume of 2,118,699 shares, compared to its average volume of 1,598,818. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $183.35. The stock has a market cap of $117.23 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.31 and a beta of 1.12.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.16. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the firm posted $1.58 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, analysts forecast that Accenture Plc will post 7.31 earnings per share for the current year.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a dividend of $1.46 per share. The ex-dividend date is Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s payout ratio is currently 43.32%.

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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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