Kovitz Investment Group Partners LLC Makes New Investment in Accenture Plc (NYSE:ACN)
Kovitz Investment Group Partners LLC bought a new stake in shares of Accenture Plc (NYSE:ACN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,747 shares of the information technology services provider’s stock, valued at approximately $578,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Manchester Financial Inc. purchased a new position in Accenture during the fourth quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in shares of Accenture in the fourth quarter worth about $28,000. OLD Second National Bank of Aurora bought a new position in shares of Accenture in the fourth quarter worth about $29,000. BerganKDV Wealth Management LLC lifted its position in shares of Accenture by 136.1% during the 4th quarter. BerganKDV Wealth Management LLC now owns 144 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 83 shares in the last quarter. Finally, Islay Capital Management LLC purchased a new position in shares of Accenture during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 75.04% of the company’s stock.
Shares of ACN stock opened at $151.82 on Thursday. The company’s fifty day simple moving average is $187.65 and its two-hundred day simple moving average is $195.51. Accenture Plc has a 52 week low of $137.15 and a 52 week high of $216.39. The stock has a market cap of $99.71 billion, a P/E ratio of 19.79, a PEG ratio of 2.00 and a beta of 1.08. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 16th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, April 15th. Accenture’s dividend payout ratio is presently 43.48%.
ACN has been the subject of several analyst reports. Citigroup reduced their target price on shares of Accenture from $200.00 to $188.00 and set a “buy” rating for the company in a report on Friday, March 20th. KeyCorp upped their price target on shares of Accenture from $208.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Wells Fargo & Co increased their price objective on shares of Accenture from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Royal Bank of Canada restated a “buy” rating and set a $228.00 price objective on shares of Accenture in a research report on Monday, January 20th. Finally, Stifel Nicolaus lifted their target price on shares of Accenture from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. Accenture has a consensus rating of “Buy” and a consensus target price of $208.63.
In other Accenture news, Chairman David Rowland sold 9,791 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $211.38, for a total transaction of $2,069,621.58. Following the completion of the transaction, the chairman now owns 25,153 shares in the company, valued at $5,316,841.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James O. Etheredge sold 1,274 shares of Accenture stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $211.31, for a total transaction of $269,208.94. Following the completion of the transaction, the insider now directly owns 13,538 shares of the company’s stock, valued at $2,860,714.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,254 shares of company stock worth $6,151,795. Corporate insiders own 0.10% of the company’s stock.
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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