Cadence Capital Management LLC Decreases Holdings in Accenture Plc (ACN)

Cadence Capital Management LLC lessened its stake in shares of Accenture Plc (NYSE:ACN) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 11,049 shares of the information technology services provider’s stock after selling 488 shares during the period. Cadence Capital Management LLC’s holdings in Accenture were worth $1,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Windsor Group LTD grew its stake in shares of Accenture by 5.3% in the third quarter. Windsor Group LTD now owns 6,121 shares of the information technology services provider’s stock worth $1,042,000 after purchasing an additional 307 shares during the last quarter. Boston Advisors LLC grew its stake in shares of Accenture by 0.9% in the second quarter. Boston Advisors LLC now owns 33,207 shares of the information technology services provider’s stock worth $5,432,000 after purchasing an additional 312 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of 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 during the last quarter. M Holdings Securities Inc. grew its stake in shares of Accenture by 4.6% in the second quarter. M Holdings Securities Inc. now owns 7,453 shares of the information technology services provider’s stock worth $1,219,000 after purchasing an additional 330 shares during the last quarter. Finally, Telemus Capital LLC grew its stake in shares of Accenture by 0.8% in the third quarter. Telemus Capital LLC now owns 43,240 shares of the information technology services provider’s stock worth $7,359,000 after purchasing an additional 340 shares during the last quarter. 70.27% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Pierre Nanterme sold 30,117 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $160.86, for a total transaction of $321,720.00. Following the transaction, the insider now owns 117,807 shares in the company, valued at approximately $18,950,434.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,717 shares of company stock worth $13,036,590. 0.21% of the stock is owned by company insiders.

Several analysts recently weighed in on the stock. Deutsche Bank boosted their price objective on shares of Accenture from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, September 20th. SunTrust Banks boosted their price objective on shares of Accenture to $178.00 and gave the stock a “hold” rating in a research note on Monday, October 1st. Zacks Investment Research raised shares of Accenture from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Moffett Nathanson assumed coverage on shares of Accenture in a research note on Thursday, October 4th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, UBS Group set a $180.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $176.37.

ACN stock opened at $165.15 on Friday. The firm has a market capitalization of $108.85 billion, a P/E ratio of 24.31, a PEG ratio of 2.20 and a beta of 1.01. Accenture Plc has a 12-month low of $142.70 and a 12-month high of $175.64.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. Accenture’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. Equities analysts expect that Accenture Plc will post 7.21 EPS for the current 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 issued a $1.46 dividend. This is a positive change from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date is Wednesday, October 17th. This represents a yield of 1.68%. Accenture’s payout ratio is presently 43.32%.

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Accenture 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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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