River Wealth Advisors LLC Increases Holdings in Accenture Plc (NYSE:ACN)

River Wealth Advisors LLC raised its position in Accenture Plc (NYSE:ACN) by 8.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,103 shares of the information technology services provider’s stock after acquiring an additional 1,073 shares during the quarter. River Wealth Advisors LLC’s holdings in Accenture were worth $2,306,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ACN. Sandy Spring Bank boosted its stake in Accenture by 17.7% during the first 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 during the last quarter. Wendell David Associates Inc. boosted its stake in Accenture by 0.9% during the first 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 during the last quarter. Field & Main Bank bought a new position in Accenture during the first quarter valued at approximately $892,000. Pinnacle Financial Partners Inc. boosted its stake in Accenture by 14.8% during the fourth 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 during the last quarter. Finally, Gillespie Robinson & Grimm Inc. boosted its stake in Accenture by 2.5% during the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 169,216 shares of the information technology services provider’s stock valued at $23,861,000 after buying an additional 4,203 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Co raised their price objective on Accenture from $193.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank raised their price objective on Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday. Bank of America lowered Accenture from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. They noted that the move was a valuation call. Credit Suisse Group set a $170.00 price objective on Accenture and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $190.00 price target on shares of Accenture in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $185.11.

In related news, CAO Richard P. Clark sold 6,266 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $177.78, for a total transaction of $1,113,969.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Lumb sold 18,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $181.19, for a total transaction of $3,261,420.00. Following the completion of the transaction, the insider now owns 95,215 shares of the company’s stock, valued at approximately $17,252,005.85. The disclosure for this sale can be found here. Insiders sold a total of 65,919 shares of company stock worth $11,695,852 in the last quarter. 0.18% of the stock is currently owned by company insiders.

NYSE:ACN traded up $0.02 during mid-day trading on Friday, reaching $184.97. The stock had a trading volume of 1,864,600 shares, compared to its average volume of 1,882,718. Accenture Plc has a twelve month low of $132.63 and a twelve month high of $186.68. The company has a market cap of $124.04 billion, a P/E ratio of 27.44, a PEG ratio of 2.45 and a beta of 1.08.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.16. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the previous year, the company earned $1.58 EPS. Accenture’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts predict that Accenture Plc will post 7.29 earnings per share for the current fiscal year.

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