Highbridge Capital Management LLC boosted its position in Accenture Plc (NYSE:ACN) by 717.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,872 shares of the information technology services provider’s stock after purchasing an additional 11,472 shares during the period. Highbridge Capital Management LLC’s holdings in Accenture were worth $1,680,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Bank of New York Mellon Corp increased its stake in Accenture by 115,500.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock valued at $1,739,880,000 after purchasing an additional 10,213,711 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Accenture during the second quarter worth $270,434,000. BlackRock Inc. increased its position in Accenture by 2.0% during the second quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock worth $7,063,106,000 after buying an additional 826,900 shares in the last quarter. Findlay Park Partners LLP increased its position in Accenture by 18.3% during the second quarter. Findlay Park Partners LLP now owns 3,384,829 shares of the information technology services provider’s stock worth $553,724,000 after buying an additional 524,190 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Accenture by 13.6% during the second quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock worth $636,010,000 after buying an additional 466,745 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction on Monday, November 12th. The stock was sold at an average price of $163.51, for a total value of $327,020.00. Following the transaction, the insider now owns 126,104 shares in the company, valued at $20,619,265.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arun Sarin sold 1,170 shares of Accenture stock in a transaction on Friday, October 5th. The shares were sold at an average price of $171.40, for a total value of $200,538.00. Following the completion of the transaction, the director now owns 4,582 shares in the company, valued at approximately $785,354.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,717 shares of company stock valued at $13,041,890. Company insiders own 0.21% of the company’s stock.
ACN has been the subject of several recent research reports. Zacks Investment Research downgraded Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Citigroup raised their price target on Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 18th. Deutsche Bank raised their price target on Accenture from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. Bank of America raised their price target on Accenture from $174.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, September 24th. Finally, UBS Group set a $180.00 price target on Accenture and gave the stock a “hold” rating in a research report on Wednesday, September 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $177.02.
Shares of NYSE:ACN opened at $157.45 on Friday. The firm has a market capitalization of $105.78 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Accenture Plc has a 52 week low of $146.05 and a 52 week high of $175.64.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $10.01 billion. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. As a group, analysts expect that Accenture Plc will post 7.21 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th were given a $1.46 dividend. The ex-dividend date was Wednesday, October 17th. This represents a dividend yield of 1.68%. This is an increase from Accenture’s previous semiannual dividend of $1.21. Accenture’s payout ratio is currently 43.32%.
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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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