Nicholas Hoffman & Company LLC. increased its position in Accenture Plc (NYSE:ACN) by 36.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 54,910 shares of the information technology services provider’s stock after acquiring an additional 14,808 shares during the quarter. Accenture comprises 3.0% of Nicholas Hoffman & Company LLC.’s investment portfolio, making the stock its 5th largest holding. Nicholas Hoffman & Company LLC.’s holdings in Accenture were worth $8,965,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Connecticut Wealth Management LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $202,000. Solstein Capital LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $844,000. 10 15 Associates Inc. boosted its position in shares of Accenture by 3.3% during the 4th quarter. 10 15 Associates Inc. now owns 67,255 shares of the information technology services provider’s stock valued at $14,162,000 after acquiring an additional 2,135 shares during the last quarter. Weaver Consulting Group boosted its position in shares of Accenture by 47.9% during the 1st quarter. Weaver Consulting Group now owns 312 shares of the information technology services provider’s stock valued at $51,000 after acquiring an additional 101 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Accenture during the 4th quarter valued at about $463,000. 74.31% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Accenture from $227.00 to $188.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Atlantic Securities initiated coverage on Accenture in a research report on Wednesday, February 19th. They issued an “overweight” rating and a $246.00 target price for the company. BNP Paribas initiated coverage on Accenture in a research report on Wednesday, April 15th. They issued an “outperform” rating and a $215.00 target price for the company. Morgan Stanley dropped their target price on Accenture from $240.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Finally, Societe Generale upgraded Accenture to a “buy” rating and set a $205.00 target price for the company in a research report on Friday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $208.89.
Shares of ACN traded down $1.02 during mid-day trading on Friday, hitting $192.48. 81,680 shares of the company’s stock traded hands, compared to its average volume of 2,271,193. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. Accenture Plc has a 1 year low of $137.15 and a 1 year high of $216.39. The firm has a market capitalization of $123.00 billion, a P/E ratio of 25.12, a PEG ratio of 2.58 and a beta of 1.05. The business’s 50-day moving average price is $176.36 and its 200-day moving average price is $191.60.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 19th. The information technology services provider reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.19. Accenture had a return on equity of 32.87% and a net margin of 11.13%. The firm had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.10 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Accenture Plc will post 7.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 16th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, April 15th. This represents a $3.20 annualized dividend and a dividend yield of 1.66%. Accenture’s dividend payout ratio (DPR) is presently 43.48%.
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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