Spears Abacus Advisors LLC Purchases 1,050 Shares of Accenture Plc (ACN)

Spears Abacus Advisors LLC boosted its position in Accenture Plc (NYSE:ACN) by 48.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,215 shares of the information technology services provider’s stock after purchasing an additional 1,050 shares during the period. Spears Abacus Advisors LLC’s holdings in Accenture Plc were worth $398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in shares of Accenture Plc by 18.9% in the second quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock valued at $58,532,000 after buying an additional 75,100 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Accenture Plc by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock valued at $258,221,000 after buying an additional 97,760 shares during the period. Retirement Systems of Alabama increased its stake in shares of Accenture Plc by 0.3% in the second quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock valued at $42,067,000 after buying an additional 916 shares during the period. Vigilant Capital Management LLC increased its stake in shares of Accenture Plc by 1.8% in the second quarter. Vigilant Capital Management LLC now owns 101,619 shares of the information technology services provider’s stock valued at $12,568,000 after buying an additional 1,780 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Accenture Plc by 2.3% in the second quarter. Stratos Wealth Partners LTD. now owns 35,664 shares of the information technology services provider’s stock valued at $4,411,000 after buying an additional 795 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

In other news, insider Daniel T. London sold 637 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel T. London sold 4,808 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $128.05, for a total value of $615,664.40. Following the completion of the sale, the insider now directly owns 22,681 shares in the company, valued at $2,904,302.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,136 shares of company stock worth $8,319,660. Insiders own 0.21% of the company’s stock.

Accenture Plc (NYSE ACN) opened at 139.49 on Friday. The company has a market cap of $86.14 billion, a price-to-earnings ratio of 25.63 and a beta of 1.08. Accenture Plc has a 12-month low of $112.31 and a 12-month high of $140.00. The stock has a 50 day moving average price of $136.17 and a 200-day moving average price of $127.33.

Accenture Plc (NYSE:ACN) last posted its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Accenture Plc had a return on equity of 43.70% and a net margin of 10.20%. The firm had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Accenture Plc will post $6.56 EPS for the current fiscal year.

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th will be given a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture Plc’s dividend payout ratio is currently 48.90%.

Several brokerages have recently weighed in on ACN. Berenberg Bank set a $140.00 price target on Accenture Plc and gave the company a “buy” rating in a research note on Saturday, June 24th. Cowen and Company reissued a “buy” rating and issued a $135.00 price target on shares of Accenture Plc in a research note on Friday, July 28th. Societe Generale cut Accenture Plc from a “buy” rating to a “hold” rating and set a $144.00 price target for the company. in a research note on Thursday, September 28th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $144.00 price target on shares of Accenture Plc in a research note on Tuesday, October 3rd. Finally, BidaskClub cut Accenture Plc from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $141.84.

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About Accenture Plc

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Institutional Ownership by Quarter for Accenture Plc (NYSE:ACN)

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