Saratoga Research & Investment Management lowered its position in Accenture Plc (NYSE:ACN) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,417 shares of the information technology services provider’s stock after selling 12,356 shares during the period. Accenture comprises about 1.9% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 24th biggest holding. Saratoga Research & Investment Management’s holdings in Accenture were worth $28,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ACN. Tandem Investment Advisors Inc. grew its holdings in Accenture by 7.7% during the third quarter. Tandem Investment Advisors Inc. now owns 41,645 shares of the information technology services provider’s stock valued at $7,088,000 after purchasing an additional 2,961 shares during the period. Bartlett & Co. LLC lifted its position in shares of Accenture by 0.8% in the third quarter. Bartlett & Co. LLC now owns 190,729 shares of the information technology services provider’s stock valued at $32,462,000 after acquiring an additional 1,459 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of Accenture by 0.8% in the third quarter. Stock Yards Bank & Trust Co. now owns 93,634 shares of the information technology services provider’s stock valued at $15,937,000 after acquiring an additional 781 shares in the last quarter. Milestone Resources Group Ltd lifted its position in shares of Accenture by 1.6% in the third quarter. Milestone Resources Group Ltd now owns 775,091 shares of the information technology services provider’s stock valued at $131,920,000 after acquiring an additional 12,321 shares in the last quarter. Finally, Community Bank & Trust Waco Texas purchased a new position in shares of Accenture in the third quarter valued at about $400,000. 70.22% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the company. Deutsche Bank boosted their price objective on Accenture from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. SunTrust Banks boosted their target price on Accenture to $178.00 and gave the stock a “hold” rating in a research report on Monday, October 1st. Zacks Investment Research upgraded Accenture from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Moffett Nathanson assumed coverage on Accenture in a research report on Thursday, October 4th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, UBS Group set a $180.00 target price on Accenture and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $176.37.

In other news, CEO Pierre Nanterme sold 30,117 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $173.45, for a total transaction of $5,223,793.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arun Sarin sold 1,170 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $171.40, for a total value of $200,538.00. Following the transaction, the director now directly owns 4,582 shares in the company, valued at approximately $785,354.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,067 shares of company stock worth $8,395,252. Insiders own 0.21% of the company’s stock.

Shares of ACN traded down $1.52 during mid-day trading on Monday, reaching $157.92. 1,957,200 shares of the company’s stock traded hands, compared to its average volume of 2,194,693. The stock has a market cap of $114.83 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 2.28 and a beta of 0.98. Accenture Plc has a 12 month low of $136.84 and a 12 month high of $175.64.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. The firm had revenue of $10.15 billion for 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, sell-side analysts expect that Accenture Plc will post 7.24 EPS for the current year.

The firm also recently announced a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be paid a dividend of $1.46 per share. This is a boost from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date is Wednesday, October 17th. This represents a dividend yield of 1.68%. Accenture’s dividend payout ratio is currently 39.47%.

Accenture Profile

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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