Sterling Capital Management LLC decreased its position in Accenture Plc (NYSE:ACN) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 635,368 shares of the information technology services provider’s stock after selling 26,695 shares during the quarter. Accenture comprises 1.0% of Sterling Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Sterling Capital Management LLC owned 0.09% of Accenture worth $108,140,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. WP Advisors LLC bought a new stake in Accenture during the second quarter worth approximately $106,000. MUFG Securities EMEA plc bought a new stake in Accenture during the second quarter worth approximately $118,000. Fort L.P. bought a new stake in Accenture during the second quarter worth approximately $124,000. Valeo Financial Advisors LLC boosted its position in Accenture by 48.3% during 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 during the period. Finally, Charter Trust Co. bought a new stake in shares of Accenture in the second quarter valued at approximately $204,000. 70.37% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ACN opened at $157.39 on Friday. The firm has a market capitalization of $106.34 billion, a P/E ratio of 23.35, a PEG ratio of 2.12 and a beta of 1.01. Accenture Plc has a one year low of $142.29 and a one year high of $175.64.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $10.01 billion. Accenture had a return on equity of 41.92% and a net margin of 9.76%. Accenture’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. Research analysts predict that Accenture Plc will post 7.21 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be paid a $1.46 dividend. This represents a dividend yield of 1.68%. This is a positive change from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date of this dividend is Wednesday, October 17th. Accenture’s dividend payout ratio is presently 43.32%.
In related news, insider Gianfranco Casati sold 18,258 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $158.19, for a total value of $2,888,233.02. Following the completion of the transaction, the insider now directly owns 49,476 shares in the company, valued at $7,826,608.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $156.59, for a total value of $382,236.19. Following the completion of the transaction, the general counsel now owns 14,288 shares of the company’s stock, valued at $2,237,357.92. The disclosure for this sale can be found here. Insiders sold 79,862 shares of company stock valued at $13,221,124 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on the company. Deutsche Bank increased their price objective on Accenture from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. SunTrust Banks increased their price objective on Accenture to $178.00 and gave the company a “hold” rating in a research report on Monday, October 1st. Zacks Investment Research raised Accenture from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Moffett Nathanson assumed coverage on Accenture in a research report on Thursday, October 4th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, UBS Group set a $180.00 price objective on Accenture and gave the company a “hold” rating in a research report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Accenture presently has a consensus 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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