Carderock Capital Management Inc. decreased its holdings in shares of Accenture PLC (NYSE:ACN) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,043 shares of the information technology services provider’s stock after selling 4,270 shares during the quarter. Accenture comprises about 2.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 4th biggest holding. Carderock Capital Management Inc.’s holdings in Accenture were worth $6,354,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Accenture by 2.3% during the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock worth $5,994,531,000 after buying an additional 1,088,676 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Accenture by 3.0% during the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock worth $5,028,772,000 after buying an additional 1,196,578 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Accenture by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock worth $3,525,083,000 after buying an additional 605,156 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Accenture by 0.8% in the second quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock valued at $1,172,063,000 after purchasing an additional 70,740 shares during the period. Finally, Independent Franchise Partners LLP grew its holdings in shares of Accenture by 3.7% in the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after purchasing an additional 222,828 shares during the period. 72.51% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on ACN shares. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Monday, August 28th. Stifel Nicolaus upped their price objective on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. KeyCorp reissued a “buy” rating and issued a $149.00 price objective on shares of Accenture in a report on Sunday, October 29th. Pivotal Research started coverage on shares of Accenture in a report on Wednesday, November 8th. They issued a “buy” rating and a $165.00 price objective for the company. Finally, Cowen set a $150.00 price objective on shares of Accenture and gave the company a “buy” rating in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $144.38.
In other Accenture news, CFO David Rowland sold 3,702 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.04, for a total transaction of $499,918.08. Following the completion of the transaction, the chief financial officer now owns 9,864 shares of the company’s stock, valued at $1,332,034.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Pierre Nanterme sold 38,589 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the transaction, the chief executive officer now directly owns 179,083 shares of the company’s stock, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,325 shares of company stock valued at $11,479,125. 0.21% of the stock is currently owned by insiders.
Accenture PLC (ACN) opened at $150.53 on Monday. The firm has a market cap of $99,343.48, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.23 and a beta of 1.08. Accenture PLC has a 12 month low of $112.31 and a 12 month high of $150.59.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The company had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 earnings per share. analysts predict that Accenture PLC will post 6.54 earnings per share for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th were paid a dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date was Wednesday, October 18th. Accenture’s dividend payout ratio (DPR) is presently 48.90%.
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Accenture Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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