National Asset Management Inc. raised its position in shares of Accenture plc (NYSE:ACN) by 9.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,764 shares of the information technology services provider’s stock after purchasing an additional 891 shares during the quarter. National Asset Management Inc.’s holdings in Accenture were worth $2,415,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in Accenture by 111.3% during the second quarter. Nordea Investment Management AB now owns 4,369,548 shares of the information technology services provider’s stock valued at $932,156,000 after purchasing an additional 2,301,616 shares in the last quarter. FMR LLC lifted its stake in shares of Accenture by 23.7% during the 2nd quarter. FMR LLC now owns 9,599,021 shares of the information technology services provider’s stock valued at $2,061,101,000 after buying an additional 1,840,911 shares in the last quarter. BlackRock Inc. boosted its holdings in Accenture by 1.7% in the 2nd quarter. BlackRock Inc. now owns 45,961,228 shares of the information technology services provider’s stock worth $9,868,793,000 after buying an additional 784,298 shares during the period. First Trust Advisors LP increased its stake in Accenture by 74.3% in the 3rd quarter. First Trust Advisors LP now owns 1,336,505 shares of the information technology services provider’s stock worth $302,037,000 after buying an additional 569,809 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Accenture by 52.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,640,108 shares of the information technology services provider’s stock worth $352,037,000 after buying an additional 565,412 shares in the last quarter. Institutional investors and hedge funds own 73.44% of the company’s stock.
In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $227.74, for a total value of $1,138,700.00. Following the sale, the insider now owns 19,391 shares in the company, valued at $4,416,106.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman David Rowland sold 8,723 shares of Accenture stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $220.42, for a total value of $1,922,723.66. Following the sale, the chairman now owns 13,903 shares of the company’s stock, valued at $3,064,499.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,485 shares of company stock valued at $10,350,464. 0.10% of the stock is owned by corporate insiders.
A number of equities analysts have recently weighed in on ACN shares. UBS Group initiated coverage on Accenture in a research note on Wednesday, September 23rd. They issued a “neutral” rating for the company. Citigroup upped their price target on Accenture from $247.00 to $269.00 and gave the stock a “buy” rating in a research note on Sunday, September 20th. BMO Capital Markets cut their price objective on shares of Accenture from $255.00 to $250.00 and set a “market perform” rating for the company in a report on Friday, September 25th. Bank of America lowered their target price on shares of Accenture from $216.00 to $209.00 and set an “underperform” rating on the stock in a report on Friday, September 25th. Finally, Robert W. Baird raised their target price on shares of Accenture from $222.00 to $240.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average price target of $231.58.
Shares of NYSE:ACN traded down $3.43 during trading on Tuesday, hitting $241.52. The company had a trading volume of 12,595 shares, compared to its average volume of 2,373,107. The stock has a market cap of $161.39 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.97 and a beta of 1.06. The company has a fifty day simple moving average of $227.94 and a two-hundred day simple moving average of $218.69. Accenture plc has a one year low of $137.15 and a one year high of $248.00.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 24th. The information technology services provider reported $1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.03). The company had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.93 billion. Accenture had a net margin of 11.52% and a return on equity of 30.17%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 EPS. As a group, research analysts anticipate that Accenture plc will post 8.03 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, October 9th. This is a positive change from Accenture’s previous quarterly dividend of $0.80. Accenture’s dividend payout ratio (DPR) is 47.18%.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services for clients to 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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