Stevens Capital Management LP Invests $15.23 Million in Accenture PLC (ACN)

Stevens Capital Management LP purchased a new position in shares of Accenture PLC (NYSE:ACN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 112,749 shares of the information technology services provider’s stock, valued at approximately $15,229,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Accenture PLC during the second quarter worth about $533,000. TCI Wealth Advisors Inc. grew its holdings in shares of Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after buying an additional 162 shares in the last quarter. Bellwether Investment Group LLC grew its holdings in shares of Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after buying an additional 60 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Accenture PLC during the first quarter worth about $122,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

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Accenture PLC (NYSE:ACN) opened at $143.92 on Tuesday. Accenture PLC has a 12-month low of $112.31 and a 12-month high of $145.00. The company has a market cap of $94,961.36, a price-to-earnings ratio of 24.35, a PEG ratio of 2.13 and a beta of 1.08.

Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The business had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. research analysts anticipate that Accenture PLC will post 6.54 EPS for the current fiscal year.

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

In related news, insider Gianfranco Casati sold 20,380 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total value of $2,908,633.60. Following the sale, the insider now directly owns 51,014 shares of the company’s stock, valued at $7,280,718.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard P. Clark sold 3,155 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $143.01, for a total transaction of $451,196.55. Following the completion of the sale, the insider now directly owns 5,533 shares in the company, valued at $791,274.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,325 shares of company stock worth $11,479,125. Corporate insiders own 0.21% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a report on Thursday, September 14th. Royal Bank Of Canada boosted their target price on shares of Accenture PLC from $145.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, September 29th. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, KeyCorp restated a “buy” rating and issued a $149.00 target price on shares of Accenture PLC in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $142.89.

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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