Laurel Grove Capital LLC reduced its stake in shares of Accenture Plc (NYSE:ACN) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,780 shares of the information technology services provider’s stock after selling 750 shares during the period. Laurel Grove Capital LLC’s holdings in Accenture were worth $1,835,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WP Advisors LLC bought a new position in shares of Accenture in the second quarter worth about $106,000. BDO Wealth Advisors LLC increased its stake in shares of Accenture by 105.3% in the first quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 379 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Accenture in the second quarter worth about $118,000. Fort L.P. bought a new position in shares of Accenture in the second quarter worth about $124,000. Finally, Valeo Financial Advisors LLC increased its stake in shares of Accenture by 48.3% in the second quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after purchasing an additional 329 shares during the period. Institutional investors own 70.22% of the company’s stock.
ACN traded up $3.46 on Friday, hitting $159.46. 265,582 shares of the stock traded hands, compared to its average volume of 2,189,919. Accenture Plc has a 52 week low of $136.14 and a 52 week high of $175.64. The firm has a market capitalization of $114.83 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.28 and a beta of 0.98.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $10.01 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Accenture Plc will post 7.24 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th will be issued a dividend of $1.46 per share. This represents a yield of 1.68%. This is an increase from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date of this dividend is Wednesday, October 17th. Accenture’s payout ratio is presently 39.47%.
ACN has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. UBS Group set a $180.00 price objective on Accenture and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Citigroup lifted their price objective on Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 18th. Argus lifted their price objective on Accenture to $200.00 and gave the stock a “positive” rating in a research note on Friday, September 28th. They noted that the move was a valuation call. Finally, Bank of America lifted their price objective on Accenture from $174.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, September 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $176.37.
In other Accenture news, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $166.66, for a total transaction of $333,320.00. Following the sale, the insider now directly owns 118,561 shares of the company’s stock, valued at $19,759,376.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 30,117 shares of Accenture stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $173.45, for a total value of $5,223,793.65. The disclosure for this sale can be found here. Insiders have sold 53,442 shares of company stock worth $9,130,339 over the last ninety days. Company insiders own 0.21% of the company’s stock.
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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