Accenture Plc (NYSE:ACN) Shares Sold by Camden National Bank

Camden National Bank reduced its holdings in Accenture Plc (NYSE:ACN) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 70,281 shares of the information technology services provider’s stock after selling 2,588 shares during the quarter. Accenture makes up about 2.9% of Camden National Bank’s portfolio, making the stock its 2nd largest holding. Camden National Bank’s holdings in Accenture were worth $13,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. Highland Private Wealth Management boosted its stake in shares of Accenture by 4.8% in the 2nd quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 66 shares during the last quarter. Brandywine Oak Private Wealth LLC bought a new stake in shares of Accenture in the 2nd quarter valued at $207,000. Private Trust Co. NA boosted its stake in shares of Accenture by 1.6% in the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after purchasing an additional 57 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Accenture by 17.3% in the 2nd quarter. GSA Capital Partners LLP now owns 4,689 shares of the information technology services provider’s stock valued at $866,000 after purchasing an additional 690 shares during the last quarter. Finally, Monetary Management Group Inc. boosted its stake in shares of Accenture by 543.3% in the 1st quarter. Monetary Management Group Inc. now owns 9,650 shares of the information technology services provider’s stock valued at $1,699,000 after purchasing an additional 8,150 shares during the last quarter. Hedge funds and other institutional investors own 69.84% of the company’s stock.

ACN traded up $0.94 during trading on Friday, hitting $184.77. 121,356 shares of the company’s stock were exchanged, compared to its average volume of 2,155,421. The business’s 50 day moving average is $193.22 and its two-hundred day moving average is $186.03. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80. The stock has a market cap of $122.43 billion, a P/E ratio of 25.14, a PEG ratio of 2.27 and a beta of 1.04.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The firm had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.07 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Accenture Plc will post 7.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a yield of 1.73%. Accenture’s payout ratio is 39.67%.

In other Accenture news, CEO David Rowland sold 2,255 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total transaction of $437,537.65. Following the transaction, the chief executive officer now owns 25,078 shares in the company, valued at $4,865,884.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $194.00, for a total transaction of $970,000.00. Following the transaction, the insider now owns 36,713 shares in the company, valued at approximately $7,122,322. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,513 shares of company stock worth $3,375,582. Corporate insiders own 0.18% of the company’s stock.

Several brokerages recently issued reports on ACN. UBS Group set a $190.00 target price on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. Barclays began coverage on shares of Accenture in a research note on Friday, September 20th. They set an “overweight” rating and a $228.00 target price on the stock. Argus increased their target price on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating and set a $214.00 target price on the stock. in a research note on Monday, September 9th. Finally, Wells Fargo & Co increased their target price on shares of Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $203.25.

About Accenture

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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