Whitnell & Co. boosted its holdings in Accenture Plc (NYSE:ACN) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,294 shares of the information technology services provider’s stock after acquiring an additional 1,905 shares during the period. Whitnell & Co.’s holdings in Accenture were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of ACN. Highland Private Wealth Management grew its holdings in Accenture by 4.8% during 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 purchased a new position in Accenture in the second quarter valued at approximately $207,000. Private Trust Co. NA lifted its stake in Accenture by 1.6% in the second 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 lifted its stake in Accenture by 17.3% in the second 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, YHB Investment Advisors Inc. purchased a new position in Accenture in the second quarter valued at approximately $204,000. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
In other news, General Counsel Joel Unruch sold 804 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $186.68, for a total transaction of $150,090.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Richard P. Clark sold 2,752 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $185.70, for a total transaction of $511,046.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,014 shares of company stock valued at $6,859,750. Insiders own 0.18% of the company’s stock.
Shares of ACN traded up $0.61 on Friday, hitting $189.70. 1,255,713 shares of the stock traded hands, compared to its average volume of 1,885,322. The company has a market capitalization of $125.58 billion, a PE ratio of 25.77, a P/E/G ratio of 2.32 and a beta of 1.03. The business has a 50 day simple moving average of $187.48 and a 200 day simple moving average of $187.54. Accenture Plc has a one year low of $132.63 and a one year high of $202.80.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Thursday, October 17th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 16th. Accenture’s payout ratio is 43.48%.
Several research firms recently commented on ACN. Robert W. Baird dropped their price objective on Accenture from $212.00 to $208.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. BMO Capital Markets set a $200.00 target price on Accenture and gave the stock a “hold” rating in a research note on Friday, September 27th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $216.00 target price on Accenture and gave the stock a “buy” rating in a research note on Friday, September 27th. Cantor Fitzgerald set a $215.00 target price on Accenture and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays initiated coverage on Accenture in a research note on Friday, September 20th. They issued an “overweight” rating and a $228.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $203.25.
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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