Accenture PLC (ACN) Holdings Maintained by Provident Investment Management Inc.
Provident Investment Management Inc. continued to hold its position in Accenture PLC (NYSE:ACN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,300 shares of the information technology services provider’s stock at the close of the second quarter. Provident Investment Management Inc.’s holdings in Accenture PLC were worth $408,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Dearborn Partners LLC increased its position in shares of Accenture PLC by 2.8% in the second quarter. Dearborn Partners LLC now owns 128,028 shares of the information technology services provider’s stock valued at $15,834,000 after acquiring an additional 3,520 shares during the period. Argent Trust Co purchased a new position in shares of Accenture PLC in the second quarter valued at about $1,364,000. Fiduciary Trust Co. increased its position in shares of Accenture PLC by 10.8% in the second quarter. Fiduciary Trust Co. now owns 10,911 shares of the information technology services provider’s stock valued at $1,349,000 after acquiring an additional 1,067 shares during the period. Manchester Capital Management LLC increased its position in shares of Accenture PLC by 7.0% in the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after acquiring an additional 60 shares during the period. Finally, Ffcm LLC increased its position in shares of Accenture PLC by 6.6% in the second quarter. Ffcm LLC now owns 29,726 shares of the information technology services provider’s stock valued at $3,677,000 after acquiring an additional 1,832 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.
A number of equities analysts have issued reports on ACN shares. Stifel Nicolaus restated a “buy” rating and issued a $150.00 price objective on shares of Accenture PLC in a research report on Sunday, October 1st. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Wednesday, September 6th. Barclays PLC lifted their target price on shares of Accenture PLC from $124.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 27th. Morgan Stanley lifted their target price on shares of Accenture PLC from $132.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, September 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $141.84.
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In other news, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the sale, the insider now directly owns 119,942 shares in the company, valued at approximately $15,293,804.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Pierre Nanterme sold 38,589 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the completion of the sale, the chief executive officer now owns 179,083 shares in the company, valued at $24,181,577.49. The disclosure for this sale can be found here. Insiders sold a total of 70,073 shares of company stock worth $9,317,545 over the last 90 days. Company insiders own 0.21% of the company’s stock.
Accenture PLC (NYSE:ACN) opened at 136.22 on Friday. The stock has a 50 day moving average of $133.29 and a 200 day moving average of $126.01. Accenture PLC has a 52 week low of $112.31 and a 52 week high of $138.70. The company has a market cap of $84.12 billion, a P/E ratio of 25.03 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, beating analysts’ consensus estimates 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 PLC had a net margin of 9.37% and a return on equity of 42.65%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, analysts expect that Accenture PLC will post $6.55 earnings per share for the current year.
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th will be issued a $1.33 dividend. This represents a dividend yield of 1.97%. The ex-dividend date is Wednesday, October 18th. Accenture PLC’s dividend payout ratio is currently 44.49%.
Accenture PLC Company Profile
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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