Acadian Asset Management LLC Sells 28,359 Shares of Accenture Plc (ACN)

Acadian Asset Management LLC lowered its holdings in shares of Accenture Plc (NYSE:ACN) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,552 shares of the information technology services provider’s stock after selling 28,359 shares during the period. Acadian Asset Management LLC’s holdings in Accenture were worth $47,917,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. raised its position in Accenture by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock worth $7,063,106,000 after buying an additional 826,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in Accenture by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,404,851 shares of the information technology services provider’s stock worth $1,702,132,000 after buying an additional 153,734 shares during the last quarter. Northern Trust Corp raised its position in Accenture by 2.6% during the 2nd quarter. Northern Trust Corp now owns 9,808,588 shares of the information technology services provider’s stock worth $1,604,587,000 after buying an additional 246,828 shares during the last quarter. WCM Investment Management CA raised its position in Accenture by 3.4% during the 2nd quarter. WCM Investment Management CA now owns 5,693,465 shares of the information technology services provider’s stock worth $931,394,000 after buying an additional 189,666 shares during the last quarter. Finally, Polen Capital Management LLC raised its position in Accenture by 1.5% during the 2nd quarter. Polen Capital Management LLC now owns 5,124,412 shares of the information technology services provider’s stock worth $838,303,000 after buying an additional 75,613 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Shares of ACN opened at $158.58 on Friday. The stock has a market capitalization of $104.32 billion, a PE ratio of 22.94, a P/E/G ratio of 2.08 and a beta of 0.98. Accenture Plc has a 52-week low of $141.93 and a 52-week high of $175.64.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. As a group, analysts forecast that Accenture Plc will post 7.21 earnings per share for the current fiscal year.

The business also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be issued a $1.46 dividend. This represents a dividend yield of 1.68%. The ex-dividend date is Wednesday, October 17th. This is an increase from Accenture’s previous semiannual dividend of $1.21. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

In other Accenture news, CFO David Rowland sold 1,559 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $160.41, for a total transaction of $250,079.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $159.64, for a total transaction of $1,277,120.00. Following the transaction, the insider now owns 124,328 shares of the company’s stock, valued at $19,847,721.92. The disclosure for this sale can be found here. Insiders sold a total of 79,862 shares of company stock valued at $13,221,124 in the last quarter. Insiders own 0.21% of the company’s stock.

A number of equities analysts have commented on the stock. Deutsche Bank upped their price objective on shares of Accenture from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. SunTrust Banks upped their price objective on shares of Accenture to $178.00 and gave the stock a “hold” rating in a research report on Monday, October 1st. Zacks Investment Research upgraded shares of Accenture from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Moffett Nathanson assumed coverage on shares of Accenture in a research report on Thursday, October 4th. They set a “buy” rating and a $200.00 price objective for the company. Finally, UBS Group set a $180.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $176.37.

Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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