Accenture PLC (ACN) Shares Bought by Highbridge Capital Management LLC
Highbridge Capital Management LLC grew its position in shares of Accenture PLC (NYSE:ACN) by 65.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,465 shares of the information technology services provider’s stock after buying an additional 22,799 shares during the quarter. Highbridge Capital Management LLC’s holdings in Accenture were worth $7,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Westwood Holdings Group Inc. raised its holdings in Accenture by 1,161.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 687,543 shares of the information technology services provider’s stock worth $82,423,000 after purchasing an additional 633,024 shares during the period. Credit Suisse AG raised its holdings in Accenture by 17.7% in the 1st quarter. Credit Suisse AG now owns 1,326,717 shares of the information technology services provider’s stock worth $159,047,000 after purchasing an additional 199,275 shares during the period. Flagship Harbor Advisors LLC bought a new position in Accenture in the 1st quarter worth $342,000. HighTower Advisors LLC raised its holdings in Accenture by 23.4% in the 1st quarter. HighTower Advisors LLC now owns 64,462 shares of the information technology services provider’s stock worth $7,730,000 after purchasing an additional 12,238 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in Accenture in the 1st quarter worth $122,000. 72.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on ACN shares. Cowen set a $150.00 target price on Accenture and gave the stock a “buy” rating in a report on Monday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $150.00 target price on shares of Accenture in a report on Sunday, October 1st. Barclays raised their target price on Accenture from $124.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 27th. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 6th. Finally, Morgan Stanley raised their target price on Accenture from $132.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Accenture currently has an average rating of “Buy” and a consensus target price of $145.77.
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 Zacks’ consensus estimate of $1.47 by $0.01. Accenture had a return on equity of 42.65% and a net margin of 9.37%. The business had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Accenture’s revenue for the quarter was up 7.8% compared to the same quarter last year. analysts expect that Accenture PLC will post 6.54 earnings per share for the current year.
The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th were given a dividend of $1.33 per share. The ex-dividend date was Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture’s payout ratio is 48.90%.
In other news, CEO Pierre Nanterme sold 38,589 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the completion of the transaction, the chief executive officer now owns 179,083 shares in the company, valued at $24,181,577.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gianfranco Casati sold 20,380 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total value of $2,908,633.60. Following the transaction, the insider now owns 51,014 shares of the company’s stock, valued at approximately $7,280,718.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,325 shares of company stock valued at $11,479,125. Company insiders own 0.21% of the company’s stock.
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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