Resources Management Corp CT ADV purchased a new position in Accenture Plc (NYSE:ACN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 56,248 shares of the information technology services provider’s stock, valued at approximately $10,819,000. Accenture comprises about 2.0% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 12th largest position.
Other institutional investors have also bought and sold shares of the company. Princeton Global Asset Management LLC grew its holdings in shares of Accenture by 6.9% in the third quarter. Princeton Global Asset Management LLC now owns 10,971 shares of the information technology services provider’s stock worth $2,081,000 after purchasing an additional 705 shares during the last quarter. Beck Bode LLC bought a new stake in Accenture during the 3rd quarter valued at $2,912,000. Voloridge Investment Management LLC boosted its position in Accenture by 3,375.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 129,568 shares of the information technology services provider’s stock valued at $24,922,000 after buying an additional 125,840 shares during the period. Bank of Hawaii boosted its position in Accenture by 70.1% during the 3rd quarter. Bank of Hawaii now owns 3,243 shares of the information technology services provider’s stock valued at $624,000 after buying an additional 1,337 shares during the period. Finally, IHT Wealth Management LLC boosted its position in Accenture by 11.4% during the 3rd quarter. IHT Wealth Management LLC now owns 18,978 shares of the information technology services provider’s stock valued at $3,651,000 after buying an additional 1,945 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ACN traded up $0.83 during midday trading on Wednesday, hitting $199.58. 1,204,500 shares of the company traded hands, compared to its average volume of 1,858,064. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $202.80. The stock has a 50-day moving average price of $191.48 and a 200 day moving average price of $189.92. The firm has a market cap of $126.34 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.50 and a beta of 1.04.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.03. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.07 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. Accenture’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Accenture Plc will post 7.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 17th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. Accenture’s dividend payout ratio (DPR) is 43.48%.
A number of research firms have issued reports on ACN. KeyCorp set a $208.00 price objective on shares of Accenture and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird lowered their price objective on shares of Accenture from $212.00 to $208.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Barclays began coverage on shares of Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 target price for the company. Cowen reissued an “outperform” rating and issued a $215.00 target price (up from $205.00) on shares of Accenture in a research note on Wednesday, November 20th. Finally, ValuEngine cut Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Accenture presently has an average rating of “Buy” and a consensus price target of $203.75.
In other news, General Counsel Joel Unruch sold 804 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $186.68, for a total value of $150,090.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 12,961 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $185.69, for a total value of $2,406,728.09. Following the completion of the transaction, the chief executive officer now owns 22,702 shares of the company’s stock, valued at approximately $4,215,534.38. The disclosure for this sale can be found here. Insiders have sold a total of 37,014 shares of company stock worth $6,859,750 in the last quarter. Company insiders own 0.18% of the company’s stock.
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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