McIlrath & Eck LLC grew its position in Accenture Plc (NYSE:ACN) by 125.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 135 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the quarter. McIlrath & Eck LLC’s holdings in Accenture were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of ACN. Nuveen Asset Management LLC boosted its holdings in shares of Accenture by 32,251.5% in the second quarter. Nuveen Asset Management LLC now owns 5,585,165 shares of the information technology services provider’s stock valued at $1,031,971,000 after acquiring an additional 5,567,901 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Accenture by 1.7% in the second quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock valued at $10,231,417,000 after acquiring an additional 909,318 shares during the period. Railway Pension Investments Ltd acquired a new stake in shares of Accenture in the second quarter valued at approximately $15,355,000. Prudential Financial Inc. raised its stake in shares of Accenture by 70.0% during the second quarter. Prudential Financial Inc. now owns 1,732,160 shares of the information technology services provider’s stock worth $320,051,000 after purchasing an additional 713,027 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Accenture by 5.3% during the second quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock worth $1,983,748,000 after purchasing an additional 536,568 shares during the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating and set a $214.00 price target for the company. in a research note on Monday, September 9th. Wells Fargo & Co upped their price target on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Cowen restated an “outperform” rating and set a $205.00 price target (up previously from $195.00) on shares of Accenture in a research note on Monday, September 30th. JPMorgan Chase & Co. set a $216.00 price target on Accenture and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets set a $200.00 price target on Accenture and gave the stock a “hold” rating in a research note on Friday, September 27th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $203.25.
NYSE:ACN traded up $0.61 during trading hours on Friday, hitting $189.70. The company’s stock had a trading volume of 1,255,713 shares, compared to its average volume of 1,885,322. The business’s 50-day moving average is $187.48 and its two-hundred day moving average is $187.54. The company has a market capitalization of $125.58 billion, a PE ratio of 25.77, a PEG ratio of 2.32 and a beta of 1.03. Accenture Plc has a 52-week low of $132.63 and a 52-week high of $202.80.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. Accenture’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. On average, research analysts anticipate that Accenture Plc will post 7.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, October 16th. Accenture’s payout ratio is 43.48%.
In other Accenture news, insider Jean-Marc Ollagnier sold 2,663 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $185.21, for a total value of $493,214.23. Following the completion of the transaction, the insider now owns 165,426 shares in the company, valued at $30,638,549.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 804 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $186.68, for a total value of $150,090.72. The disclosure for this sale can be found here. Insiders sold 37,014 shares of company stock valued at $6,859,750 in the last quarter. 0.18% of the stock is currently owned by company insiders.
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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