Comerica Bank Reduces Position in Accenture PLC (ACN)
Comerica Bank lowered its position in Accenture PLC (NYSE:ACN) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,190 shares of the information technology services provider’s stock after selling 2,142 shares during the period. Comerica Bank’s holdings in Accenture PLC were worth $23,527,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Accenture PLC in the second quarter worth approximately $533,000. Jacobi Capital Management LLC grew its holdings in Accenture PLC by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares during the last quarter. Bellwether Investment Group LLC grew its holdings in Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after purchasing an additional 359 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 71.36% of the company’s stock.
Several equities analysts have commented on ACN shares. Cowen and Company set a $150.00 price target on Accenture PLC and gave the company a “buy” rating in a report on Monday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 price target on shares of Accenture PLC in a report on Sunday, October 1st. Barclays PLC increased their price target on Accenture PLC from $124.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Wednesday, September 6th. Finally, Morgan Stanley increased their price target on Accenture PLC from $132.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Accenture PLC has a consensus rating of “Buy” and a consensus price target of $143.73.
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In other Accenture PLC news, insider Richard P. Clark sold 3,155 shares of Accenture PLC stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.01, for a total transaction of $451,196.55. Following the completion of the transaction, the insider now directly owns 5,533 shares of the company’s stock, valued at $791,274.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Pierre Nanterme sold 38,589 shares of Accenture PLC stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.03, for a total value of $5,210,672.67. Following the transaction, the chief executive officer now directly owns 179,083 shares of the company’s stock, valued at $24,181,577.49. The disclosure for this sale can be found here. Over the last three months, 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 (ACN) opened at $148.01 on Wednesday. The stock has a market capitalization of $96,730.05, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.08. Accenture PLC has a twelve month low of $112.31 and a twelve month high of $148.47.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. The company had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. equities analysts anticipate that Accenture PLC will post 6.54 EPS for the current fiscal year.
The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th were issued a dividend of $1.33 per share. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture PLC’s payout ratio is presently 48.90%.
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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