Baldwin Brothers Inc. MA lowered its stake in shares of Accenture plc (NYSE:ACN) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,301 shares of the information technology services provider’s stock after selling 666 shares during the quarter. Accenture makes up about 1.8% of Baldwin Brothers Inc. MA’s investment portfolio, making the stock its 18th largest holding. Baldwin Brothers Inc. MA’s holdings in Accenture were worth $13,175,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in ACN. Evolution Wealth Advisors LLC lifted its stake in Accenture by 566.7% during the second quarter. Evolution Wealth Advisors LLC now owns 140 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 119 shares during the last quarter. Versant Capital Management Inc lifted its stake in Accenture by 47.5% during the second quarter. Versant Capital Management Inc now owns 149 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 48 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new position in Accenture during the second quarter worth $31,000. Demars Financial Group LLC bought a new position in Accenture during the second quarter worth $32,000. Finally, Crewe Advisors LLC bought a new position in Accenture during the third quarter worth $39,000. 73.44% of the stock is owned by institutional investors and hedge funds.
In related news, COO Johan Deblaere sold 3,000 shares of Accenture stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $222.47, for a total value of $667,410.00. Following the transaction, the chief operating officer now owns 59,609 shares of the company’s stock, valued at approximately $13,261,214.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean-Marc Ollagnier sold 3,773 shares of Accenture stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $222.44, for a total value of $839,266.12. Following the completion of the transaction, the insider now directly owns 174,816 shares in the company, valued at approximately $38,886,071.04. The disclosure for this sale can be found here. Insiders sold a total of 14,954 shares of company stock worth $3,327,555 in the last three months. 0.10% of the stock is currently owned by company insiders.
ACN has been the topic of several research analyst reports. Wolfe Research raised their price objective on Accenture from $165.00 to $220.00 and gave the stock a “peer perform” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. cut their target price on Accenture from $256.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, September 25th. BMO Capital Markets cut their target price on Accenture from $255.00 to $250.00 and set a “market perform” rating on the stock in a research note on Friday, September 25th. Bank of America cut their target price on Accenture from $216.00 to $209.00 and set an “underperform” rating on the stock in a research note on Friday, September 25th. Finally, Piper Sandler raised their target price on Accenture from $206.00 to $229.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average target price of $231.58.
NYSE:ACN traded up $1.28 during mid-day trading on Friday, reaching $230.05. 1,796,451 shares of the stock were exchanged, compared to its average volume of 2,427,175. The business has a fifty day moving average price of $231.55 and a 200 day moving average price of $209.31. The firm has a market capitalization of $146.49 billion, a PE ratio of 29.16, a PEG ratio of 2.87 and a beta of 1.06. Accenture plc has a 1-year low of $137.15 and a 1-year high of $247.82.
Accenture (NYSE:ACN) last released its earnings results on Thursday, September 24th. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.03). The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.93 billion. Accenture had a return on equity of 30.17% and a net margin of 11.52%. Accenture’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.74 earnings per share. As a group, research analysts expect that Accenture plc will post 8.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be paid a $0.88 dividend. The ex-dividend date is Friday, October 9th. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. This is a boost from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio (DPR) is currently 47.18%.
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services for clients to accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
See Also: Retained Earnings
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