Fifth Third Bancorp Sells 12,369 Shares of Accenture Plc (ACN)

Fifth Third Bancorp lowered its position in Accenture Plc (NYSE:ACN) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,967 shares of the information technology services provider’s stock after selling 12,369 shares during the quarter. Fifth Third Bancorp’s holdings in Accenture were worth $67,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Windsor Group LTD lifted its position in shares of Accenture by 5.3% in the third quarter. Windsor Group LTD now owns 6,121 shares of the information technology services provider’s stock worth $1,042,000 after buying an additional 307 shares during the last quarter. Capital Analysts LLC lifted its position in shares of Accenture by 4.0% in the third quarter. Capital Analysts LLC now owns 8,021 shares of the information technology services provider’s stock worth $1,365,000 after buying an additional 307 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Accenture by 48.3% in the second quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after buying an additional 329 shares during the last quarter. M Holdings Securities Inc. lifted its position in shares of Accenture by 4.6% in the second quarter. M Holdings Securities Inc. now owns 7,453 shares of the information technology services provider’s stock worth $1,219,000 after buying an additional 330 shares during the last quarter. Finally, Telemus Capital LLC lifted its position in shares of Accenture by 0.8% in the third quarter. Telemus Capital LLC now owns 43,240 shares of the information technology services provider’s stock worth $7,359,000 after buying an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Accenture stock opened at $159.25 on Friday. The company has a market capitalization of $109.08 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.21 and a beta of 1.01. Accenture Plc has a 12 month low of $146.05 and a 12 month high of $175.64.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. Equities research analysts expect that Accenture Plc will post 7.21 earnings per share for the current year.

The company also recently declared a semiannual dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th were issued a $1.46 dividend. This is a boost from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date was Wednesday, October 17th. This represents a yield of 1.68%. Accenture’s dividend payout ratio is 43.32%.

Several equities analysts recently weighed in on the company. Zacks Investment Research raised Accenture from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Argus boosted their price objective on Accenture to $200.00 and gave the stock a “positive” rating in a research report on Friday, September 28th. They noted that the move was a valuation call. BMO Capital Markets boosted their price objective on Accenture to $180.00 and gave the stock a “market perform” rating in a research report on Friday, September 28th. Credit Suisse Group set a $170.00 price objective on Accenture and gave the stock a “hold” rating in a research report on Friday, September 28th. Finally, Robert W. Baird boosted their price objective on Accenture from $174.00 to $176.00 and gave the stock a “neutral” rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $177.02.

In other Accenture news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $163.51, for a total value of $327,020.00. Following the completion of the transaction, the insider now owns 126,104 shares of the company’s stock, valued at approximately $20,619,265.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $156.59, for a total value of $382,236.19. Following the completion of the transaction, the general counsel now directly owns 14,288 shares of the company’s stock, valued at approximately $2,237,357.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,717 shares of company stock valued at $13,041,890. Insiders own 0.21% of the company’s stock.

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About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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