Teacher Retirement System of Texas decreased its position in shares of Accenture Plc (NYSE:ACN) by 54.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,343 shares of the information technology services provider’s stock after selling 114,420 shares during the period. Teacher Retirement System of Texas’ holdings in Accenture were worth $16,958,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Valley National Advisers Inc. increased its position in Accenture by 70.2% during the fourth 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 period. Truvestments Capital LLC acquired a new position in Accenture during the first quarter worth approximately $27,000. Focused Wealth Management Inc increased its position in Accenture by 100.0% during the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock worth $28,000 after buying an additional 100 shares during the period. Financial Gravity Wealth Inc. acquired a new position in Accenture during the first quarter worth approximately $30,000. Finally, Quantamental Technologies LLC acquired a new position in Accenture during the fourth quarter worth approximately $42,000. 69.98% of the stock is currently owned by institutional investors.
Accenture stock opened at $178.33 on Friday. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $183.35. The company has a market capitalization of $119.83 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.
The firm also recently declared a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were paid a $1.46 dividend. The ex-dividend date was Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
In related news, insider ‘T Noordende Alexander M. Van sold 8,000 shares of Accenture stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total value of $1,422,240.00. Following the sale, the insider now directly owns 116,753 shares in the company, valued at $20,756,348.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard Lumb sold 18,000 shares of Accenture stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $181.19, for a total value of $3,261,420.00. Following the completion of the sale, the insider now owns 95,215 shares in the company, valued at $17,252,005.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,919 shares of company stock worth $11,695,852. Company insiders own 0.18% of the company’s stock.
A number of research analysts have recently issued reports on ACN shares. Wells Fargo & Co boosted their target price on Accenture from $165.00 to $181.00 and gave the company an “in-line” rating in a report on Wednesday, March 20th. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. UBS Group set a $180.00 target price on Accenture and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, KeyCorp boosted their target price on Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, March 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Accenture presently has a consensus rating of “Buy” and a consensus price target of $183.58.
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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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