Public Employees Retirement Association of Colorado Decreases Stock Holdings in Accenture Plc (NYSE:ACN)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Accenture Plc (NYSE:ACN) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,046,985 shares of the information technology services provider’s stock after selling 7,591 shares during the quarter. Accenture accounts for 1.2% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 14th largest position. Public Employees Retirement Association of Colorado owned about 0.16% of Accenture worth $201,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Farmers National Bank boosted its position in shares of Accenture by 6.2% during the 2nd quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock valued at $171,000 after purchasing an additional 54 shares in the last quarter. Private Trust Co. NA lifted its position in shares of 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 worth $672,000 after purchasing an additional 57 shares in the last quarter. Modera Wealth Management LLC lifted its position in shares of Accenture by 1.5% in the second quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock worth $719,000 after purchasing an additional 57 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in shares of Accenture by 0.4% in the third quarter. Pegasus Asset Management Inc. now owns 16,876 shares of the information technology services provider’s stock worth $3,246,000 after purchasing an additional 60 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of Accenture by 11.0% in the third quarter. Benjamin Edwards Inc. now owns 614 shares of the information technology services provider’s stock worth $118,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 69.98% of the company’s stock.

A number of analysts have recently issued reports on the stock. KeyCorp set a $208.00 price target on shares of Accenture and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Partners assumed coverage on shares of Accenture in a research report on Monday, September 23rd. They set a “buy” rating and a $227.00 price objective on the stock. Wells Fargo & Co raised their price objective on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. set a $216.00 price objective on shares of Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Cowen reaffirmed an “outperform” rating and set a $205.00 price objective (up previously from $195.00) on shares of Accenture in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. Accenture presently has a consensus rating of “Buy” and an average target price of $203.25.

In other Accenture news, insider Ellyn Shook sold 4,688 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $183.65, for a total transaction of $860,951.20. Following the completion of the sale, the insider now directly owns 27,271 shares of the company’s stock, valued at approximately $5,008,319.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard P. Clark sold 2,752 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $185.70, for a total value of $511,046.40. The disclosure for this sale can be found here. Insiders sold 37,014 shares of company stock valued at $6,859,750 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Shares of NYSE:ACN traded up $0.61 during trading on Friday, reaching $189.70. The stock had a trading volume of 1,255,713 shares, compared to its average volume of 1,885,322. Accenture Plc has a 52 week low of $132.63 and a 52 week high of $202.80. The firm has a market capitalization of $125.58 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.32 and a beta of 1.03. The stock has a fifty day simple moving average of $187.48 and a two-hundred day simple moving average of $187.54.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 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 analyst estimates of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. On average, equities analysts expect that Accenture Plc will post 7.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. Accenture’s dividend payout ratio is 43.48%.

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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