Resources Management Corp CT ADV acquired a new stake in Accenture Plc (NYSE:ACN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,248 shares of the information technology services provider’s stock, valued at approximately $10,819,000. Accenture accounts for 2.0% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 12th largest position.
A number of other large investors also recently made changes to their positions in the stock. McIlrath & Eck LLC lifted its stake in shares of Accenture by 125.0% in the third quarter. McIlrath & Eck LLC now owns 135 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 75 shares during the period. Knuff & Co LLC acquired a new position in shares of Accenture in the 3rd quarter worth approximately $26,000. Next Capital Management LLC bought a new stake in shares of Accenture in the 2nd quarter valued at $34,000. Quantum Capital Management bought a new stake in shares of Accenture in the 3rd quarter valued at $46,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Accenture during the second quarter worth $44,000. 73.73% of the stock is owned by institutional investors and hedge funds.
In other news, insider Ellyn Shook sold 4,688 shares of Accenture 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 transaction, the insider now directly owns 27,271 shares in the company, valued at $5,008,319.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 12,961 shares of the business’s 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 directly owns 22,702 shares of the company’s stock, valued at $4,215,534.38. The disclosure for this sale can be found here. Insiders have sold 37,014 shares of company stock worth $6,859,750 over the last ninety days. 0.18% of the stock is owned by insiders.
Several research firms recently issued reports on ACN. Wells Fargo & Co boosted their target price on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Barclays assumed coverage on Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 price target for the company. Stifel Nicolaus set a $203.00 price objective on Accenture and gave the stock a “buy” rating in a research report on Thursday, September 26th. BMO Capital Markets set a $200.00 price objective 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. Finally, Redburn Partners started coverage on Accenture in a research report on Monday, September 23rd. They set a “buy” rating and a $227.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $203.75.
Shares of ACN stock traded up $0.83 on Wednesday, reaching $199.58. 1,204,500 shares of the company were exchanged, compared to its average volume of 1,858,064. The company has a 50-day moving average of $191.48 and a 200-day moving average of $189.92. The company has a market cap of $126.34 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.50 and a beta of 1.04. Accenture Plc has a one year low of $132.63 and a one year high of $202.80.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.03. The business had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Equities research analysts predict that Accenture Plc will post 7.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 17th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, October 16th. Accenture’s payout ratio is 43.48%.
Accenture Company Profile
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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