Canandaigua National Corp Sells 240 Shares of Accenture plc (NYSE:ACN)


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Canandaigua National Corp decreased its holdings in shares of Accenture plc (NYSE:ACN) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,425 shares of the information technology services provider’s stock after selling 240 shares during the period. Accenture accounts for about 1.0% of Canandaigua National Corp’s holdings, making the stock its 26th largest holding. Canandaigua National Corp’s holdings in Accenture were worth $5,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cowa LLC bought a new position in Accenture during the 4th quarter valued at approximately $31,000. Key Financial Inc bought a new position in Accenture during the 4th quarter valued at approximately $36,000. Capstone Triton Financial Group LLC bought a new position in Accenture during the 4th quarter valued at approximately $38,000. Freedman Financial Associates Inc. bought a new position in Accenture during the 4th quarter valued at approximately $38,000. Finally, MD Financial Management Inc. bought a new position in Accenture during the 4th quarter valued at approximately $44,000. 70.99% of the stock is owned by institutional investors and hedge funds.

In other news, COO Johan Deblaere sold 8,000 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $280.00, for a total transaction of $2,240,000.00. Following the transaction, the chief operating officer now directly owns 52,579 shares of the company’s stock, valued at approximately $14,722,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathleen R. Mcclure sold 274 shares of the stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $256.89, for a total value of $70,387.86. Following the transaction, the chief financial officer now directly owns 24,661 shares in the company, valued at $6,335,164.29. The disclosure for this sale can be found here. Insiders have sold a total of 39,482 shares of company stock worth $10,186,569 over the last three months. Insiders own 0.07% of the company’s stock.

A number of research analysts have weighed in on the company. Smith Barney Citigroup upped their target price on Accenture from $265.00 to $303.00 in a report on Friday, December 18th. Susquehanna Bancshares upped their target price on Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a report on Friday, March 19th. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Wednesday, March 24th. Barclays upped their target price on Accenture from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Finally, Wells Fargo & Company assumed coverage on Accenture in a report on Friday, December 18th. They set an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued 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 a consensus target price of $267.96.

ACN traded up $2.27 during trading on Thursday, hitting $284.84. 14,306 shares of the company’s stock traded hands, compared to its average volume of 2,154,414. The company’s 50 day simple moving average is $263.45 and its two-hundred day simple moving average is $248.56. Accenture plc has a 12-month low of $165.07 and a 12-month high of $283.63. The stock has a market capitalization of $181.21 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 3.09 and a beta of 1.08.

Accenture (NYSE:ACN) last released its quarterly earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.13. The firm had revenue of $12.09 billion for the quarter, compared to analysts’ expectations of $11.83 billion. Accenture had a return on equity of 29.32% and a net margin of 11.74%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 EPS. As a group, sell-side analysts anticipate that Accenture plc will post 8.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $3.52 annualized dividend and a dividend yield of 1.24%. Accenture’s payout ratio is 47.18%.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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