Associated Banc Corp Acquires New Holdings in Accenture Plc (ACN)

Associated Banc Corp acquired a new stake in shares of Accenture Plc (NYSE:ACN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900 shares of the information technology services provider’s stock, valued at approximately $334,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. increased its position in shares of Accenture by 70.2% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 73 shares during the period. Truvestments Capital LLC bought a new stake in shares of Accenture during the first quarter valued at about $27,000. Focused Wealth Management Inc increased its position in shares of Accenture by 100.0% during the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 100 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of Accenture during the first quarter valued at about $30,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Accenture during the fourth quarter valued at about $42,000. 69.98% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on ACN shares. Bank of America cut Accenture from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald upped their price objective on shares of Accenture from $185.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, March 29th. Citigroup upped their price objective on shares of Accenture from $169.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. Finally, BMO Capital Markets upped their price objective on shares of Accenture to $185.00 and gave the stock a “market perform” rating in a research report on Friday, March 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Accenture currently has a consensus rating of “Buy” and an average target price of $183.58.

In other Accenture news, COO Johan Deblaere sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 74,937 shares of the company’s stock, valued at $13,173,924.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ellyn Shook sold 2,343 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total value of $411,969.69. Following the completion of the sale, the insider now directly owns 33,545 shares of the company’s stock, valued at approximately $5,898,217.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,919 shares of company stock valued at $11,695,852. 0.18% of the stock is owned by insiders.

Shares of ACN opened at $180.39 on Thursday. The company has a market capitalization of $120.78 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.36 and a beta of 1.12. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $183.35.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.16. The business 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%. Accenture’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 earnings per share. As a group, equities analysts expect that Accenture Plc will post 7.31 EPS for the current year.

The company also recently announced a semiannual dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were paid a $1.46 dividend. This represents a yield of 1.66%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend 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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