Farr Miller & Washington LLC DC lessened its stake in shares of Accenture Plc (NYSE:ACN) by 18.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 218,912 shares of the information technology services provider’s stock after selling 48,778 shares during the period. Accenture makes up about 3.2% of Farr Miller & Washington LLC DC’s holdings, making the stock its 8th largest holding. Farr Miller & Washington LLC DC’s holdings in Accenture were worth $37,259,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Bank of New York Mellon Corp boosted its stake in shares of Accenture by 115,500.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after acquiring an additional 10,213,711 shares in the last quarter. Capital World Investors boosted its stake in shares of Accenture by 1,454.7% during the 3rd quarter. Capital World Investors now owns 2,876,218 shares of the information technology services provider’s stock worth $489,532,000 after acquiring an additional 2,691,218 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Accenture during the 2nd quarter worth about $270,434,000. BlackRock Inc. boosted its stake in shares of Accenture by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock worth $7,063,106,000 after acquiring an additional 826,900 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Accenture by 15.2% during the 3rd quarter. Capital International Investors now owns 5,068,124 shares of the information technology services provider’s stock worth $862,595,000 after acquiring an additional 669,637 shares in the last quarter. Institutional investors own 70.68% of the company’s stock.
In other news, General Counsel Chad T. Jerdee sold 2,441 shares of the stock in a transaction that occurred on Thursday, October 25th. The stock was 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 directly owns 14,288 shares of the company’s stock, valued at approximately $2,237,357.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $163.51, for a total value of $327,020.00. Following the completion of the transaction, the insider now directly owns 126,104 shares of the company’s stock, valued at $20,619,265.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,717 shares of company stock valued at $13,041,890. Insiders own 0.21% of the company’s stock.
Accenture stock opened at $158.62 on Thursday. The company has a market capitalization of $105.15 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.13 and a beta of 1.01. Accenture Plc has a 12 month low of $146.05 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, beating the 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 revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. Equities research analysts expect that Accenture Plc will post 7.21 earnings per share for the current year.
The company also recently declared a semiannual dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th were issued a $1.46 dividend. This is a boost from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date was Wednesday, October 17th. This represents a yield of 1.68%. Accenture’s dividend payout ratio is 43.32%.
Several research firms recently weighed in on ACN. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Monday. Moffett Nathanson began coverage on Accenture in a research report on Thursday, October 4th. They set a “buy” rating and a $200.00 price objective for the company. SunTrust Banks boosted their price objective on Accenture to $178.00 and gave the stock a “hold” rating in a research report on Monday, October 1st. Argus reissued a “buy” rating on shares of Accenture in a research report on Monday, October 1st. Finally, BMO Capital Markets boosted their price objective on Accenture to $180.00 and gave the stock a “market perform” rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $177.02.
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Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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