Evanson Asset Management LLC Has $9.32 Million Stock Holdings in Accenture Plc (NYSE:ACN)

Evanson Asset Management LLC increased its stake in Accenture Plc (NYSE:ACN) by 0.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 48,476 shares of the information technology services provider’s stock after acquiring an additional 150 shares during the period. Accenture comprises 1.9% of Evanson Asset Management LLC’s holdings, making the stock its 9th largest position. Evanson Asset Management LLC’s holdings in Accenture were worth $9,324,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ACN. Farmers National Bank grew its holdings in Accenture by 6.2% in the second quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock worth $171,000 after purchasing an additional 54 shares during the period. Private Trust Co. NA grew its holdings in shares of Accenture by 1.6% during the second quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after buying an additional 57 shares during the last quarter. Modera Wealth Management LLC grew its holdings in shares of Accenture by 1.5% during the second quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after buying an additional 57 shares during the last quarter. Enterprise Bank & Trust Co grew its holdings in shares of Accenture by 0.7% during the second quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock valued at $1,807,000 after buying an additional 65 shares during the last quarter. Finally, Tarbox Family Office Inc. grew its holdings in shares of Accenture by 34.6% during the second quarter. Tarbox Family Office Inc. now owns 253 shares of the information technology services provider’s stock valued at $47,000 after buying an additional 65 shares during the last quarter. 69.84% of the stock is owned by institutional investors.

ACN stock traded up $2.20 on Friday, hitting $186.03. The company had a trading volume of 81,783 shares, compared to its average volume of 2,155,421. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $202.80. The stock’s 50-day simple moving average is $193.22 and its 200 day simple moving average is $186.03. The stock has a market cap of $122.43 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.27 and a beta of 1.04.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.07 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Accenture Plc will post 7.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, October 16th. Accenture’s dividend payout ratio is currently 39.67%.

In other Accenture news, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total value of $970,000.00. Following the transaction, the insider now directly owns 36,713 shares in the company, valued at $7,122,322. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Rowland sold 2,255 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $194.03, for a total transaction of $437,537.65. Following the completion of the transaction, the chief executive officer now owns 25,078 shares in the company, valued at $4,865,884.34. The disclosure for this sale can be found here. Insiders sold 17,513 shares of company stock worth $3,375,582 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on ACN. Cantor Fitzgerald set a $215.00 price target on shares of Accenture and gave the company a “buy” rating in a report on Friday, September 27th. Barclays began coverage on shares of Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 price target on the stock. Stifel Nicolaus set a $203.00 price target on shares of Accenture and gave the company a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. set a $216.00 price target on shares of Accenture and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Co increased their price target on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Accenture has a consensus rating of “Buy” and an average target price of $203.25.

About Accenture

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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