Pinebridge Investments L.P. cut its position in Accenture PLC (NYSE:ACN) by 89.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,632 shares of the information technology services provider’s stock after selling 110,172 shares during the quarter. Pinebridge Investments L.P.’s holdings in Accenture were worth $1,841,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Eagle Ridge Investment Management purchased a new position in shares of Accenture in the third quarter worth approximately $359,000. Canada Pension Plan Investment Board boosted its holdings in shares of Accenture by 18.9% during the second quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock worth $58,532,000 after purchasing an additional 75,100 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Accenture by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock worth $258,221,000 after purchasing an additional 97,760 shares during the period. Koch Industries Inc. boosted its holdings in shares of Accenture by 18,227.9% during the second quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock worth $327,000 after purchasing an additional 328,103 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Accenture by 0.3% during the second quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock worth $42,067,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 72.51% of the company’s stock.
Accenture PLC (NYSE ACN) opened at $148.27 on Thursday. The stock has a market cap of $97,456.00, a PE ratio of 24.99, a P/E/G ratio of 2.19 and a beta of 1.08. Accenture PLC has a 52-week low of $112.31 and a 52-week high of $148.60.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The business had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. equities research analysts expect that Accenture PLC will post 6.54 earnings per share for the current year.
The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, October 19th were given a dividend of $1.33 per share. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a yield of 1.97%. Accenture’s dividend payout ratio (DPR) is 48.90%.
ACN has been the subject of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Robert W. Baird reiterated a “hold” rating and issued a $155.00 target price on shares of Accenture in a research note on Thursday. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research note on Thursday, September 14th. Royal Bank Of Canada lifted their target price on shares of Accenture from $145.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $149.00 target price on shares of Accenture in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Accenture presently has an average rating of “Buy” and a consensus target price of $144.38.
In other Accenture news, COO Johan Deblaere sold 5,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.05, for a total transaction of $675,250.00. Following the transaction, the chief operating officer now directly owns 120,817 shares in the company, valued at approximately $16,316,335.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.06, for a total transaction of $297,132.00. Following the transaction, the insider now owns 118,085 shares in the company, valued at $15,948,560.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is owned by corporate insiders.
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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.
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