Quadrant Capital Management LLC reduced its holdings in Accenture Plc (NYSE:ACN) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,374 shares of the information technology services provider’s stock after selling 1,583 shares during the period. Accenture comprises 2.3% of Quadrant Capital Management LLC’s holdings, making the stock its 11th largest position. Quadrant Capital Management LLC’s holdings in Accenture were worth $3,638,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. WP Advisors LLC acquired a new stake in shares of Accenture in the second quarter worth approximately $106,000. MUFG Securities EMEA plc acquired a new stake in shares of Accenture in the second quarter worth approximately $118,000. Fort L.P. acquired a new stake in shares of Accenture in the second quarter worth approximately $124,000. Valeo Financial Advisors LLC boosted its stake in shares of Accenture by 48.3% in the second quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after acquiring an additional 329 shares during the last quarter. Finally, Breiter Capital Management Inc. acquired a new stake in shares of Accenture in the third quarter worth approximately $205,000. 70.37% of the stock is currently owned by institutional investors.
In related news, CEO Pierre Nanterme sold 30,117 shares of Accenture stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $173.45, for a total transaction of $5,223,793.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $173.43, for a total value of $867,150.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,862 shares of company stock worth $13,221,124. 0.21% of the stock is currently owned by company insiders.
Shares of Accenture stock opened at $158.58 on Friday. Accenture Plc has a one year low of $141.93 and a one year high of $175.64. The company has a market cap of $104.32 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.08 and a beta of 0.98.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts forecast that Accenture Plc will post 7.21 EPS for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be given a dividend of $1.46 per share. This is an increase from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date is Wednesday, October 17th. This represents a yield of 1.68%. Accenture’s dividend payout ratio (DPR) is presently 43.32%.
ACN has been the topic of a number of research analyst reports. UBS Group set a $180.00 price target on Accenture and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. Argus lifted their price target on Accenture to $200.00 and gave the stock a “positive” rating in a research note on Friday, September 28th. They noted that the move was a valuation call. Citigroup lifted their price target on Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 18th. Finally, Moffett Nathanson initiated coverage on Accenture in a research note on Thursday, October 4th. They issued a “buy” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Accenture presently has an average rating of “Buy” and a consensus price target of $176.37.
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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