Bingham Osborn & Scarborough LLC Trims Stake in Accenture Plc (ACN)

Bingham Osborn & Scarborough LLC cut its position in Accenture Plc (NYSE:ACN) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,868 shares of the information technology services provider’s stock after selling 337 shares during the period. Bingham Osborn & Scarborough LLC’s holdings in Accenture were worth $1,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Advisory Inc. acquired a new position in Accenture during the 2nd quarter valued at about $270,434,000. BlackRock Inc. boosted its stake 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 valued at $7,063,106,000 after purchasing an additional 826,900 shares during the last quarter. Findlay Park Partners LLP boosted its stake in Accenture by 18.3% during the 2nd quarter. Findlay Park Partners LLP now owns 3,384,829 shares of the information technology services provider’s stock valued at $553,724,000 after purchasing an additional 524,190 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Accenture by 13.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock valued at $636,010,000 after purchasing an additional 466,745 shares during the last quarter. Finally, Hexavest Inc. acquired a new position in Accenture during the 3rd quarter valued at about $60,851,000. Institutional investors own 70.27% of the company’s stock.

NYSE:ACN opened at $158.60 on Tuesday. The company has a market capitalization of $104.55 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.11 and a beta of 1.01. Accenture Plc has a 12 month low of $142.29 and a 12 month high of $175.64.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. The company 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%. Accenture’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. On average, analysts expect 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. Investors 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 a boost from Accenture’s previous semiannual dividend of $1.21. Accenture’s payout ratio is 43.32%.

In other Accenture news, insider Gianfranco Casati sold 18,258 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $158.19, for a total transaction of $2,888,233.02. Following the sale, the insider now owns 49,476 shares of the company’s stock, valued at approximately $7,826,608.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the business’s stock in a transaction 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 approximately $19,847,721.92. The disclosure for this sale can be found here. Insiders sold a total of 76,373 shares of company stock worth $12,661,550 in the last ninety days. 0.21% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on Accenture from $163.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, September 18th. Moffett Nathanson assumed coverage on Accenture in a research note on Thursday, October 4th. They set a “buy” rating and a $200.00 price target for the company. Wolfe Research assumed coverage on Accenture in a research note on Tuesday, July 17th. They set an “underperform” rating for the company. Zacks Investment Research upgraded Accenture from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Deutsche Bank lifted their target price 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. Accenture presently has an average rating of “Buy” and an average target price of $176.37.

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About Accenture

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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