Baird Financial Group Inc. Trims Holdings in Accenture Plc (ACN)

Baird Financial Group Inc. cut its stake in Accenture Plc (NYSE:ACN) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,294 shares of the information technology services provider’s stock after selling 6,160 shares during the period. Baird Financial Group Inc.’s holdings in Accenture were worth $23,990,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Accenture by 2.0% in the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock valued at $7,063,106,000 after purchasing an additional 826,900 shares during the period. Bank of New York Mellon Corp boosted its holdings in Accenture by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,404,851 shares of the information technology services provider’s stock valued at $1,702,132,000 after purchasing an additional 153,734 shares during the period. Northern Trust Corp boosted its holdings in Accenture by 2.6% in the 2nd quarter. Northern Trust Corp now owns 9,808,588 shares of the information technology services provider’s stock valued at $1,604,587,000 after purchasing an additional 246,828 shares during the period. WCM Investment Management CA boosted its holdings in Accenture by 3.7% in the 3rd quarter. WCM Investment Management CA now owns 5,905,897 shares of the information technology services provider’s stock valued at $1,005,184,000 after purchasing an additional 212,432 shares during the period. Finally, Polen Capital Management LLC boosted its holdings in Accenture by 0.7% in the 3rd quarter. Polen Capital Management LLC now owns 5,160,737 shares of the information technology services provider’s stock valued at $878,357,000 after purchasing an additional 36,325 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Jean-Marc Ollagnier sold 1,340 shares of Accenture stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.37, for a total transaction of $232,315.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Pierre Nanterme sold 30,117 shares of Accenture stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The disclosure for this sale can be found here. Insiders have sold a total of 78,717 shares of company stock valued at $13,041,890 over the last three months. 0.21% of the stock is currently owned by insiders.

A number of analysts have weighed in on ACN shares. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Citigroup raised their price objective on shares of Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, September 18th. Deutsche Bank raised their price objective on shares of Accenture from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, September 20th. Bank of America raised their price objective on shares of Accenture from $174.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, September 24th. Finally, UBS Group set a $180.00 price objective on shares of Accenture and gave the stock a “hold” rating in a report on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $177.02.

Shares of ACN stock opened at $161.07 on Friday. Accenture Plc has a 12-month low of $145.23 and a 12-month high of $175.64. The stock has a market cap of $105.69 billion, a P/E ratio of 23.90, a PEG ratio of 2.14 and a beta of 1.01.

Accenture (NYSE:ACN) last announced 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 net margin of 9.76% and a return on equity of 41.92%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same period last year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that Accenture Plc will post 7.21 earnings per share for the current fiscal year.

The company also recently declared a semiannual dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, October 18th were issued a dividend of $1.46 per share. This is an increase from Accenture’s previous semiannual dividend of $1.21. This represents a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, October 17th. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

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Accenture Company Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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