Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Accenture Plc (NYSE:ACN) in the third quarter, Holdings Channel reports. The firm purchased 11,232 shares of the information technology services provider’s stock, valued at approximately $1,720,000.
A number of other hedge funds have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. boosted its position in shares of Accenture by 2.3% in the third quarter. Stratos Wealth Partners LTD. now owns 38,873 shares of the information technology services provider’s stock worth $6,616,000 after buying an additional 884 shares during the period. TD Asset Management Inc. boosted its position in shares of Accenture by 6.5% in the third quarter. TD Asset Management Inc. now owns 683,986 shares of the information technology services provider’s stock worth $116,414,000 after buying an additional 41,605 shares during the period. Mission Wealth Management LP boosted its position in shares of Accenture by 10.8% in the third quarter. Mission Wealth Management LP now owns 4,287 shares of the information technology services provider’s stock worth $730,000 after buying an additional 417 shares during the period. Chicago Equity Partners LLC boosted its position in shares of Accenture by 19.4% in the third quarter. Chicago Equity Partners LLC now owns 87,155 shares of the information technology services provider’s stock worth $14,834,000 after buying an additional 14,180 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of Accenture in the third quarter worth about $1,069,000. 70.27% of the stock is owned by hedge funds and other institutional investors.
In other Accenture news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $160.86, for a total transaction of $321,720.00. Following the sale, the insider now owns 117,807 shares in the company, valued at $18,950,434.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arun Sarin sold 1,170 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $171.40, for a total value of $200,538.00. Following the sale, the director now owns 4,582 shares in the company, valued at approximately $785,354.80. The disclosure for this sale can be found here. Insiders have sold 76,373 shares of company stock worth $12,661,550 in the last 90 days. 0.21% of the stock is currently owned by insiders.
Several equities research analysts have recently weighed in on ACN shares. Berenberg Bank raised Accenture to a “buy” rating and set a $190.00 target price for the company in a research report on Thursday, September 27th. Deutsche Bank upped their target price on Accenture from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. Argus reaffirmed a “buy” rating on shares of Accenture in a research report on Monday, October 1st. Moffett Nathanson started coverage on Accenture in a research report on Thursday, October 4th. They issued a “buy” rating and a $200.00 target price for the company. Finally, Zacks Investment Research raised Accenture from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $176.37.
NYSE:ACN opened at $157.57 on Monday. Accenture Plc has a one year low of $142.29 and a one year high of $175.64. The stock has a market capitalization of $104.55 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Accenture Plc will post 7.21 EPS for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th will be paid a dividend of $1.46 per share. The ex-dividend date of this dividend is Wednesday, October 17th. This represents a yield of 1.68%. This is a boost from Accenture’s previous semiannual dividend of $1.21. Accenture’s dividend payout ratio is presently 43.32%.
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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