Accenture plc (NYSE:ACN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Accenture plc (NYSE:ACN) by 20.6% in the second quarter, Holdings Channel reports. The firm owned 949,906 shares of the information technology services provider’s stock after acquiring an additional 162,017 shares during the period. Principal Financial Group Inc.’s holdings in Accenture were worth $280,023,000 at the end of the most recent quarter.

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

Shares of NYSE ACN opened at $339.72 on Wednesday. The firm has a market capitalization of $215.60 billion, a PE ratio of 38.11, a PEG ratio of 3.48 and a beta of 1.11. Accenture plc has a one year low of $210.42 and a one year high of $345.52. The business has a 50-day moving average price of $324.95 and a two-hundred day moving average price of $296.70.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Wednesday, June 23rd. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.16. The business had revenue of $13.26 billion during the quarter, compared to analyst estimates of $12.81 billion. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. On average, equities research analysts forecast that Accenture plc will post 8.79 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, July 15th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, July 14th. Accenture’s payout ratio is 47.18%.

In other news, insider Jean-Marc Ollagnier sold 5,233 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $314.20, for a total transaction of $1,644,208.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.20, for a total value of $1,413,900.00. Following the completion of the sale, the chief financial officer now directly owns 16,131 shares in the company, valued at approximately $5,068,360.20. The disclosure for this sale can be found here. Insiders sold a total of 19,993 shares of company stock worth $6,194,020 over the last three months. 0.07% of the stock is owned by company insiders.

Several brokerages have issued reports on ACN. Susquehanna Bancshares increased their price objective on shares of Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research report on Friday, June 25th. Susquehanna increased their target price on Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Friday, June 25th. Bank of America raised their price objective on Accenture from $324.00 to $379.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Cowen raised their price objective on Accenture from $316.00 to $365.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price objective on Accenture from $302.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, June 25th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $322.99.

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.

Further Reading: What are the Benefits of Index Funds?

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture plc (NYSE:ACN).

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.