Citizens Financial Group Inc RI lessened its position in Accenture Plc (NYSE:ACN) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 48,887 shares of the information technology services provider’s stock after selling 928 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Accenture were worth $8,321,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Advisory Inc. bought a new position in Accenture in the second quarter valued at approximately $270,434,000. BlackRock Inc. grew its stake in Accenture by 2.0% in the second 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 in the last quarter. Findlay Park Partners LLP grew its stake in Accenture by 18.3% in the second 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 in the last quarter. Janus Henderson Group PLC grew its stake in Accenture by 13.6% in the second 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 in the last quarter. Finally, Hexavest Inc. bought a new position in Accenture in the third quarter valued at approximately $60,851,000. 70.27% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on ACN. UBS Group set a $180.00 target price on Accenture and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Citigroup lifted their price target on Accenture from $163.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, September 18th. Argus lifted their price target on Accenture to $200.00 and gave the stock a “positive” rating in a report on Friday, September 28th. They noted that the move was a valuation call. Finally, Berenberg Bank raised Accenture to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $176.37.
In other news, General Counsel Chad T. Jerdee sold 2,441 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $156.59, for a total transaction 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 approximately $2,237,357.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gianfranco Casati sold 18,258 shares of the business’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 transaction, the insider now directly owns 49,476 shares of the company’s stock, valued at approximately $7,826,608.44. The disclosure for this sale can be found here. Insiders have sold a total of 76,373 shares of company stock valued at $12,661,550 in the last three months. 0.21% of the stock is owned by insiders.
Shares of NYSE ACN opened at $158.60 on Tuesday. The firm has a market capitalization of $104.55 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.11 and a beta of 1.01. Accenture Plc has a fifty-two week low of $142.29 and a fifty-two week high of $175.64.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. Equities research analysts anticipate that Accenture Plc will post 7.21 earnings per share for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be issued a dividend of $1.46 per share. The ex-dividend date of this dividend is Wednesday, October 17th. This represents a dividend yield of 1.68%. This is a boost from Accenture’s previous semiannual dividend of $1.21. Accenture’s payout ratio is 43.32%.
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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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