Hillsdale Investment Management Inc. Reduces Position in Accenture PLC $ACN
by Sarita Garza · The Markets DailyHillsdale Investment Management Inc. decreased its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 90.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,865 shares of the information technology services provider’s stock after selling 26,295 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Accenture were worth $769,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac purchased a new position in Accenture during the fourth quarter worth $2,330,000. National Pension Service grew its position in shares of Accenture by 4.9% in the fourth quarter. National Pension Service now owns 1,410,982 shares of the information technology services provider’s stock valued at $378,566,000 after purchasing an additional 66,242 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Accenture in the fourth quarter valued at $205,000. Rothschild Investment LLC grew its position in shares of Accenture by 126.6% in the fourth quarter. Rothschild Investment LLC now owns 2,542 shares of the information technology services provider’s stock valued at $682,000 after purchasing an additional 1,420 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Accenture in the fourth quarter valued at $705,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. TD Cowen lowered their price objective on Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Morgan Stanley lowered their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. HSBC lowered their price objective on Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. BMO Capital Markets lowered their price objective on Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, March 6th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $271.81.
Get Our Latest Research Report on Accenture
Insider Activity at Accenture
In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.
Accenture Price Performance
Shares of Accenture stock opened at $196.54 on Tuesday. Accenture PLC has a twelve month low of $155.82 and a twelve month high of $321.77. The stock has a market capitalization of $130.79 billion, a P/E ratio of 16.10, a PEG ratio of 1.77 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $185.57 and its 200 day moving average price is $226.05.
Accenture (NYSE:ACN – Get Free Report) last issued its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Accenture PLC will post 13.87 earnings per share for the current year.
Accenture Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.
About Accenture
Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.
The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.
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