Wellington Shields Capital Management LLC Grows Stock Position in Accenture plc (NYSE:ACN)

Wellington Shields Capital Management LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 3.9% during the second quarter, Holdings Channel.com reports. The fund owned 21,546 shares of the information technology services provider’s stock after buying an additional 800 shares during the period. Accenture comprises approximately 0.8% of Wellington Shields Capital Management LLC’s holdings, making the stock its 24th biggest position. Wellington Shields Capital Management LLC’s holdings in Accenture were worth $6,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC acquired a new stake in Accenture in the 2nd quarter worth about $25,000. Solstein Capital LLC acquired a new stake in Accenture in the 1st quarter worth about $29,000. Hanson & Doremus Investment Management boosted its holdings in Accenture by 750.0% in the 2nd quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock worth $31,000 after buying an additional 120 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in Accenture by 456.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock worth $41,000 after buying an additional 114 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC acquired a new stake in Accenture in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

NYSE ACN traded up $1.25 during mid-day trading on Monday, reaching $343.07. 20,819 shares of the stock were exchanged, compared to its average volume of 1,942,377. The stock has a market capitalization of $217.73 billion, a PE ratio of 38.23, a PEG ratio of 3.48 and a beta of 1.11. Accenture plc has a 1-year low of $212.45 and a 1-year high of $345.52. The business’s fifty day simple moving average is $332.28 and its 200 day simple moving average is $307.60.

Accenture (NYSE:ACN) last issued its earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.01. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The business had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.42 billion. During the same quarter last year, the firm posted $1.70 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts forecast that Accenture plc will post 8.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 14th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, October 13th. This is a positive change from Accenture’s previous quarterly dividend of $0.88. This represents a $3.88 annualized dividend and a dividend yield of 1.13%. Accenture’s payout ratio is 52.01%.

Accenture announced that its board has approved a stock buyback program on Thursday, September 23rd that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Several research analysts have recently weighed in on ACN shares. Moffett Nathanson upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $338.06 to $405.00 in a report on Wednesday, September 22nd. They noted that the move was a valuation call. Citigroup lifted their price target on shares of Accenture from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, September 24th. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $335.00 target price on the stock in a research report on Wednesday, June 23rd. Susquehanna Bancshares boosted their target price on Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Friday, June 25th. Finally, Stifel Nicolaus boosted their target price on Accenture from $342.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, September 23rd. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $352.42.

In related news, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction that occurred on Friday, July 23rd. The shares were sold at an average price of $317.47, for a total value of $825,422.00. Following the sale, the insider now directly owns 19,420 shares in the company, valued at approximately $6,165,267.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean-Marc Ollagnier sold 581 shares of the business’s stock in a transaction that occurred on Monday, September 27th. The shares were sold at an average price of $334.78, for a total transaction of $194,507.18. The disclosure for this sale can be found here. Insiders sold a total of 3,762 shares of company stock valued at $1,214,436 over the last ninety days. Company insiders own 0.07% of the company’s stock.

About Accenture

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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