Lenox Wealth Management Inc. Sells 1,767 Shares of Accenture Plc (NYSE:ACN)

Lenox Wealth Management Inc. lessened its stake in Accenture Plc (NYSE:ACN) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,121 shares of the information technology services provider’s stock after selling 1,767 shares during the quarter. Accenture accounts for approximately 1.5% of Lenox Wealth Management Inc.’s portfolio, making the stock its 10th biggest position. Lenox Wealth Management Inc.’s holdings in Accenture were worth $5,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Farmers National Bank grew its position in Accenture by 6.2% during the second quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock worth $171,000 after buying an additional 54 shares in the last quarter. Private Trust Co. NA boosted its holdings in Accenture by 1.6% during 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 in the last quarter. Modera Wealth Management LLC boosted its holdings in Accenture by 1.5% during the second quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after purchasing an additional 57 shares in the last quarter. Pegasus Asset Management Inc. boosted its holdings in Accenture by 0.4% during the third quarter. Pegasus Asset Management Inc. now owns 16,876 shares of the information technology services provider’s stock valued at $3,246,000 after purchasing an additional 60 shares in the last quarter. Finally, Enterprise Bank & Trust Co boosted its holdings in Accenture by 0.7% during the second quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock valued at $1,807,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.

Shares of Accenture stock traded up $0.61 during trading hours on Friday, reaching $189.70. 1,255,713 shares of the company’s stock were exchanged, compared to its average volume of 1,885,322. The company has a 50 day moving average of $187.48 and a two-hundred day moving average of $187.54. 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 $125.58 billion, a P/E ratio of 25.77, a P/E/G ratio of 2.32 and a beta of 1.03.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. Accenture’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 EPS. Equities analysts predict that Accenture Plc will post 7.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 1.69%. Accenture’s dividend payout ratio is presently 43.48%.

ACN has been the topic of a number of recent research reports. Cantor Fitzgerald set a $215.00 price objective on Accenture and gave the company a “buy” rating in a report on Friday, September 27th. Barclays initiated coverage on Accenture in a report on Friday, September 20th. They issued an “overweight” rating and a $228.00 target price on the stock. Redburn Partners initiated coverage on Accenture in a report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. ValuEngine downgraded Accenture from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets set a $200.00 target price on Accenture and gave the stock a “hold” rating in a report on Friday, September 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Accenture currently has an average rating of “Buy” and an average target price of $203.25.

In other news, Chairman David Rowland sold 4,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $185.15, for a total transaction of $874,833.75. Following the transaction, the chairman now directly owns 21,500 shares of the company’s stock, valued at $3,980,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 4,688 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $183.65, for a total transaction of $860,951.20. Following the transaction, the insider now directly owns 27,271 shares in the company, valued at $5,008,319.15. The disclosure for this sale can be found here. Insiders have sold 37,014 shares of company stock worth $6,859,750 over the last ninety days. Insiders own 0.18% of the company’s stock.

Accenture Company Profile

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.

Further Reading: Bid-Ask Spread

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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