Somerset Trust Co Has $2.87 Million Holdings in Accenture Plc (NYSE:ACN)

Somerset Trust Co increased its stake in Accenture Plc (NYSE:ACN) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,366 shares of the information technology services provider’s stock after buying an additional 845 shares during the quarter. Accenture makes up 1.5% of Somerset Trust Co’s holdings, making the stock its 22nd biggest position. Somerset Trust Co’s holdings in Accenture were worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc raised its stake in Accenture by 47.5% in the 2nd quarter. Versant Capital Management Inc now owns 149 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 48 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in Accenture by 200.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 100 shares during the period. FSA Wealth Management LLC bought a new stake in Accenture in the 4th quarter valued at $34,000. Finally, HHM Wealth Advisors LLC bought a new stake in Accenture in the 1st quarter valued at $29,000. 73.62% of the stock is owned by institutional investors.

A number of research firms recently weighed in on ACN. Bank of America increased their price target on Accenture from $154.00 to $182.00 and gave the company an “underperform” rating in a research note on Thursday, June 18th. Stifel Nicolaus increased their price objective on Accenture from $184.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. Moffett Nathanson upgraded Accenture from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Friday, March 20th. Exane BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Wedbush reiterated an “outperform” rating on shares of Accenture in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $219.44.

Shares of ACN stock traded up $0.65 during mid-day trading on Friday, reaching $219.76. 300,655 shares of the stock traded hands, compared to its average volume of 2,276,725. The stock’s fifty day simple moving average is $209.07 and its two-hundred day simple moving average is $193.86. Accenture Plc has a 1-year low of $137.15 and a 1-year high of $222.75. The company has a market cap of $139.94 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.88 and a beta of 1.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 25th. The information technology services provider reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.06. Accenture had a return on equity of 31.51% and a net margin of 11.11%. The firm had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same period last year, the firm posted $1.93 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Accenture Plc will post 7.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 16th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, July 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.46%. Accenture’s dividend payout ratio (DPR) is 43.48%.

In other news, CEO Gianfranco Casati sold 3,682 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $180.00, for a total transaction of $662,760.00. Following the completion of the transaction, the chief executive officer now directly owns 26,014 shares in the company, valued at $4,682,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total value of $208,125.00. Following the transaction, the chief financial officer now owns 23,085 shares of the company’s stock, valued at $4,270,725. The disclosure for this sale can be found here. Insiders have sold 26,847 shares of company stock valued at $4,939,033 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Accenture Profile

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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