Accenture Plc (ACN) Shares Sold by Kendall Capital Management

Kendall Capital Management lessened its position in Accenture Plc (NYSE:ACN) by 4.2% in the first quarter, HoldingsChannel.com reports. The firm owned 7,575 shares of the information technology services provider’s stock after selling 330 shares during the quarter. Accenture accounts for approximately 1.3% of Kendall Capital Management’s holdings, making the stock its 25th biggest holding. Kendall Capital Management’s holdings in Accenture were worth $1,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wendell David Associates Inc. increased its position in Accenture by 0.9% during the 1st quarter. Wendell David Associates Inc. now owns 37,354 shares of the information technology services provider’s stock valued at $6,575,000 after buying an additional 350 shares in the last quarter. Sandy Spring Bank increased its position in Accenture by 17.7% during the 1st quarter. Sandy Spring Bank now owns 34,986 shares of the information technology services provider’s stock valued at $6,158,000 after buying an additional 5,253 shares in the last quarter. Field & Main Bank bought a new position in Accenture during the 1st quarter valued at approximately $892,000. Pinnacle Financial Partners Inc. increased its position in Accenture by 14.8% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 6,699 shares of the information technology services provider’s stock valued at $945,000 after buying an additional 864 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Accenture by 78.8% during the 4th quarter. Two Sigma Advisers LP now owns 328,983 shares of the information technology services provider’s stock valued at $46,390,000 after buying an additional 145,025 shares in the last quarter. Institutional investors own 69.30% of the company’s stock.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Credit Suisse Group set a $170.00 price objective on Accenture and gave the company a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley raised their price objective on Accenture from $178.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Cantor Fitzgerald raised their price objective on Accenture from $185.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $190.00 price objective on shares of Accenture in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Accenture has an average rating of “Buy” and a consensus target price of $183.58.

In other Accenture news, CAO Richard P. Clark sold 6,266 shares of Accenture 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Lumb sold 18,000 shares of Accenture stock in a transaction on Friday, May 10th. The stock was sold at an average price of $172.82, for a total value of $3,110,760.00. Following the completion of the sale, the insider now directly owns 90,536 shares of the company’s stock, valued at approximately $15,646,431.52. The disclosure for this sale can be found here. In the last three months, insiders sold 65,919 shares of company stock valued at $11,695,852. Corporate insiders own 0.18% of the company’s stock.

Accenture stock opened at $178.81 on Monday. The firm has a market capitalization of $120.15 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $183.35.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Zacks’ 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%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. On average, sell-side analysts expect that Accenture Plc will post 7.31 earnings per share for the current year.

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