Penobscot Investment Management Company Inc. increased its holdings in Accenture Plc (NYSE:ACN) by 9.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,850 shares of the information technology services provider’s stock after purchasing an additional 2,195 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Accenture were worth $4,229,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. WP Advisors LLC acquired a new position in Accenture in the second quarter worth about $106,000. MUFG Securities EMEA plc acquired a new position in Accenture in the second quarter worth about $118,000. Fort L.P. acquired a new position in Accenture in the second quarter worth about $124,000. Valeo Financial Advisors LLC raised its position in 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 purchasing an additional 329 shares in the last quarter. Finally, Breiter Capital Management Inc. acquired a new position in Accenture in the third quarter worth about $205,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Daniel T. London sold 1,930 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $160.36, for a total transaction of $309,494.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 124,328 shares in the company, valued at $19,847,721.92. The disclosure for this sale can be found here. Insiders have sold 79,862 shares of company stock worth $13,221,124 over the last three months. 0.21% of the stock is owned by insiders.
Shares of Accenture stock opened at $158.58 on Friday. The stock has a market cap of $104.32 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.08 and a beta of 0.98. Accenture Plc has a 1-year low of $141.93 and a 1-year high of $175.64.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, sell-side analysts predict that Accenture Plc will post 7.21 EPS 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 paid a dividend of $1.46 per share. This is a boost from Accenture’s previous semiannual dividend of $1.21. This represents a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, October 17th. Accenture’s dividend payout ratio is 43.32%.
Several research analysts recently issued reports on ACN shares. UBS Group set a $180.00 price target on shares of Accenture and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Argus increased their price target on shares of Accenture to $200.00 and gave the stock a “positive” rating in a research report on Friday, September 28th. They noted that the move was a valuation call. Citigroup increased their price target on shares of Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 18th. Finally, Moffett Nathanson started coverage on shares of Accenture in a research report on Thursday, October 4th. They issued a “buy” rating and a $200.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $176.37.
Accenture Company 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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