Callahan Advisors LLC Trims Holdings in Accenture Plc (ACN)

Callahan Advisors LLC lowered its holdings in shares of Accenture Plc (NYSE:ACN) by 2.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,945 shares of the information technology services provider’s stock after selling 560 shares during the period. Callahan Advisors LLC’s holdings in Accenture were worth $4,246,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. WP Advisors LLC bought a new stake in shares of Accenture in the 2nd quarter valued at about $106,000. BDO Wealth Advisors LLC grew its position in shares of Accenture by 105.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 379 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Accenture in the 2nd quarter valued at about $118,000. Fort L.P. acquired a new position in shares of Accenture in the 2nd quarter valued at about $124,000. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Accenture by 48.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock valued at $162,000 after purchasing an additional 329 shares during the period. 70.27% of the stock is owned by institutional investors.

ACN has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on Accenture from $174.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, September 24th. Credit Suisse Group set a $170.00 price objective on Accenture and gave the company a “hold” rating in a research note on Friday, September 28th. Argus boosted their price objective on Accenture to $200.00 and gave the company a “positive” rating in a research note on Friday, September 28th. They noted that the move was a valuation call. Berenberg Bank raised Accenture to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, September 27th. Finally, SunTrust Banks upped their price target on Accenture to $178.00 and gave the stock a “hold” rating in a research note on Monday, October 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $176.37.

Shares of Accenture stock opened at $159.42 on Wednesday. The company has a market capitalization of $104.55 billion, a PE ratio of 23.65, a P/E/G ratio of 2.11 and a beta of 1.01. Accenture Plc has a 52 week low of $142.70 and a 52 week high of $175.64.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $1.48 earnings per share. As a group, equities research analysts predict that Accenture Plc will post 7.21 EPS for the current year.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be paid a $1.46 dividend. The ex-dividend date of this dividend is Wednesday, October 17th. This is an increase from Accenture’s previous semiannual dividend of $1.21. This represents a dividend yield of 1.68%. Accenture’s dividend payout ratio is 43.32%.

In other news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $160.86, for a total value of $321,720.00. Following the completion of the transaction, the insider now directly owns 117,807 shares of the company’s stock, valued at $18,950,434.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Arun Sarin sold 1,170 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $171.40, for a total value of $200,538.00. Following the completion of the transaction, the director now directly owns 4,582 shares of the company’s stock, valued at $785,354.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,373 shares of company stock valued at $12,661,550. Company insiders own 0.21% of the company’s stock.

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About Accenture

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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