Accenture Plc (ACN) is Assenagon Asset Management S.A.’s 9th Largest Position

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Assenagon Asset Management S.A. cut its stake in Accenture Plc (NYSE:ACN) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 651,273 shares of the information technology services provider’s stock after selling 256,249 shares during the period. Accenture comprises about 1.1% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 9th largest position. Assenagon Asset Management S.A.’s holdings in Accenture were worth $114,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. lifted its stake in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 73 shares during the period. Truvestments Capital LLC purchased a new stake in Accenture in the first quarter worth about $27,000. Focused Wealth Management Inc lifted its stake in Accenture by 100.0% in the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 100 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in Accenture in the first quarter worth about $30,000. Finally, Quantamental Technologies LLC purchased a new stake in Accenture in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 70.15% of the company’s stock.

In other news, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the company’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 $1,422,240.00. Following the transaction, the insider now owns 116,753 shares in the company, valued at $20,756,348.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 1,172 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $155.00, for a total transaction of $181,660.00. Following the transaction, the insider now owns 36,337 shares in the company, valued at approximately $5,632,235. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,091 shares of company stock valued at $5,817,092. Insiders own 0.18% of the company’s stock.

ACN stock opened at $181.21 on Tuesday. The stock has a market cap of $121.76 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.40 and a beta of 1.12. Accenture Plc has a one year low of $132.63 and a one year high of $181.72.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 10.52% and a return on equity of 38.57%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. As a group, equities research analysts predict that Accenture Plc will post 7.3 EPS for the current year.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be given a dividend of $1.46 per share. This represents a dividend yield of 1.66%. The ex-dividend date is Wednesday, April 10th. Accenture’s payout ratio is 43.32%.

A number of analysts recently weighed in on ACN shares. Bank of America raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price objective for the company in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. ValuEngine lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Cantor Fitzgerald upped their price objective on shares of Accenture from $185.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, March 29th. Finally, SunTrust Banks set a $157.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research note on Wednesday, January 2nd. 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’s stock. The company presently has a consensus rating of “Buy” and an average target price of $183.58.

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Accenture Company 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.

Further Reading: What kind of dividend yield to CEF’s pay?

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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