Princeton Global Asset Management LLC Sells 5,057 Shares of Accenture PLC $ACN

by · The Markets Daily

Princeton Global Asset Management LLC reduced its holdings in shares of Accenture PLC (NYSE:ACNFree Report) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,678 shares of the information technology services provider’s stock after selling 5,057 shares during the period. Princeton Global Asset Management LLC’s holdings in Accenture were worth $3,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Running Oak Capital LLC increased its holdings in shares of Accenture by 14.3% during the third quarter. Running Oak Capital LLC now owns 57,541 shares of the information technology services provider’s stock valued at $14,190,000 after acquiring an additional 7,190 shares in the last quarter. Weitz Investment Management Inc. grew its position in Accenture by 28.8% during the 3rd quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock valued at $39,592,000 after purchasing an additional 35,900 shares during the last quarter. D.A. Davidson & CO. increased its stake in Accenture by 17.4% during the 3rd quarter. D.A. Davidson & CO. now owns 258,599 shares of the information technology services provider’s stock valued at $63,771,000 after purchasing an additional 38,325 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Accenture by 180.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock valued at $99,794,000 after purchasing an additional 260,357 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in Accenture by 25.5% in the third quarter. Merit Financial Group LLC now owns 22,401 shares of the information technology services provider’s stock worth $5,524,000 after buying an additional 4,552 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $330.00 price target on shares of Accenture in a report on Thursday, December 18th. Guggenheim lowered their price objective on Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Mizuho cut their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. BMO Capital Markets decreased their price target on Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research note on Friday, March 20th. Finally, Royal Bank Of Canada lowered their price target on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.88.

View Our Latest Report on Accenture

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 1,332 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $275.00, for a total transaction of $366,300.00. Following the completion of the sale, the general counsel directly owned 28,207 shares in the company, valued at $7,756,925. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John F. Walsh sold 3,986 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $276.38, for a total transaction of $1,101,650.68. Following the sale, the chief executive officer directly owned 27,221 shares of the company’s stock, valued at $7,523,339.98. The trade was a 12.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,088 shares of company stock valued at $5,970,434. 0.02% of the stock is currently owned by company insiders.

Accenture Trading Down 0.1%

Shares of ACN stock opened at $201.18 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12-month low of $187.00 and a 12-month high of $325.71. The stock has a market capitalization of $133.87 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.91 and a beta of 1.24. The firm’s 50 day moving average is $217.22 and its 200 day moving average is $243.19.

Accenture (NYSE:ACNGet Free Report) last announced 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. The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 EPS. Research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a yield of 3.2%. Accenture’s dividend payout ratio is currently 53.40%.

Accenture Profile

(Free Report)

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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