King Luther Capital Management Corp increased its holdings in shares of Accenture Plc (NYSE:ACN) by 1.0% during the first quarter, HoldingsChannel reports. The firm owned 181,372 shares of the information technology services provider’s stock after buying an additional 1,831 shares during the period. King Luther Capital Management Corp’s holdings in Accenture were worth $31,925,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its position in Accenture by 70.2% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 73 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Accenture during the first quarter valued at approximately $27,000. Financial Gravity Wealth Inc. purchased a new stake in Accenture during the first quarter valued at approximately $30,000. Semmax Financial Advisors Inc. purchased a new stake in Accenture during the first quarter valued at approximately $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Accenture by 455.9% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.
NYSE ACN opened at $182.92 on Friday. The firm has a market capitalization of $122.92 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 2.43 and a beta of 1.08. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $184.23.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the company posted $1.58 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Accenture Plc will post 7.29 EPS for the current year.
The firm also recently announced a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a dividend of $1.46 per share. The ex-dividend date was Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
In related news, insider Richard Lumb sold 18,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $172.82, for a total transaction of $3,110,760.00. Following the completion of the transaction, the insider now owns 90,536 shares of the company’s stock, valued at $15,646,431.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Chad T. Jerdee sold 2,441 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $177.77, for a total transaction of $433,936.57. Following the transaction, the general counsel now directly owns 13,381 shares of the company’s stock, valued at approximately $2,378,740.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,919 shares of company stock valued at $11,695,852. 0.18% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on ACN shares. Bank of America cut shares of Accenture from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald increased their target price on shares of Accenture from $185.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Citigroup increased their target price on shares of Accenture from $169.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, March 29th. Finally, BMO Capital Markets increased their target price on shares of Accenture to $185.00 and gave the company a “market perform” rating in a research report on Friday, March 29th. Two 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. The stock currently has an average rating of “Buy” and a consensus price target of $183.58.
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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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