Lakeview Capital Partners LLC cut its stake in shares of Accenture Plc (NYSE:ACN) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,034 shares of the information technology services provider’s stock after selling 239 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Accenture were worth $391,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lenox Wealth Advisors LLC increased its position in Accenture by 297.1% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. Next Capital Management LLC bought a new position in shares of Accenture in the second quarter worth $34,000. Cerebellum GP LLC bought a new position in Accenture in the second quarter valued at $40,000. Lipe & Dalton bought a new position in Accenture in the second quarter valued at $42,000. Finally, Ibex Wealth Advisors bought a new position in Accenture in the second quarter valued at $44,000. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Accenture stock traded up $0.61 during trading on Friday, reaching $189.70. 1,255,713 shares of the stock were exchanged, compared to its average volume of 1,885,322. The stock’s fifty day moving average is $187.48 and its 200 day moving average is $187.54. The firm has a market cap of $125.58 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $202.80.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. Accenture’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. On average, 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 will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, October 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. Accenture’s dividend payout ratio is currently 43.48%.
ACN has been the topic of a number of research analyst reports. BMO Capital Markets set a $200.00 target price on Accenture and gave the company a “hold” rating in a research note on Friday, September 27th. They noted that the move was a valuation call. ValuEngine cut Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald set a $215.00 price objective on Accenture and gave the company a “buy” rating in a research note on Friday, September 27th. Argus raised their price objective on Accenture to $220.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Barclays started coverage on Accenture in a research note on Friday, September 20th. They set an “overweight” rating and a $228.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $203.25.
In other news, insider Ellyn Shook sold 4,688 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $183.65, for a total transaction of $860,951.20. Following the completion of the sale, the insider now directly owns 27,271 shares in the company, valued at $5,008,319.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 12,961 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $185.69, for a total transaction of $2,406,728.09. Following the sale, the chief executive officer now owns 22,702 shares of the company’s stock, valued at $4,215,534.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,014 shares of company stock valued at $6,859,750. 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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