Griffin Asset Management Inc. acquired a new position in shares of Accenture PLC (NYSE:ACN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,845 shares of the information technology services provider’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC increased its holdings in Accenture by 1.2% in the third quarter. Piedmont Investment Advisors LLC now owns 190,039 shares of the information technology services provider’s stock worth $25,669,000 after purchasing an additional 2,285 shares in the last quarter. California Public Employees Retirement System increased its holdings in Accenture by 3.5% in the third quarter. California Public Employees Retirement System now owns 1,634,381 shares of the information technology services provider’s stock worth $220,756,000 after purchasing an additional 55,462 shares in the last quarter. Cambria Investment Management L.P. increased its holdings in Accenture by 178.3% in the third quarter. Cambria Investment Management L.P. now owns 44,268 shares of the information technology services provider’s stock worth $5,979,000 after purchasing an additional 28,360 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Accenture by 3.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 46,733 shares of the information technology services provider’s stock worth $6,312,000 after purchasing an additional 1,635 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in Accenture by 325.6% in the third quarter. Cubist Systematic Strategies LLC now owns 49,125 shares of the information technology services provider’s stock worth $6,635,000 after purchasing an additional 37,583 shares in the last quarter. Institutional investors own 72.51% of the company’s stock.

Shares of Accenture PLC (ACN) traded up $1.41 during trading hours on Wednesday, hitting $152.10. The company had a trading volume of 2,318,300 shares, compared to its average volume of 2,112,973. The stock has a market capitalization of $99,449.07, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.23 and a beta of 1.08. Accenture PLC has a one year low of $112.31 and a one year high of $152.80.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The company had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. Accenture had a return on equity of 42.65% and a net margin of 9.37%. Accenture’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. equities analysts predict that Accenture PLC will post 6.54 EPS for the current year.

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, October 19th were given 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’s payout ratio is 48.90%.

In related news, insider Daniel T. London sold 637 shares of Accenture stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $136.03, for a total transaction of $86,651.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Pierre Nanterme sold 38,589 shares of Accenture stock in a transaction that occurred 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 in the company, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is owned by insiders.

A number of equities research analysts have weighed in on the company. Berenberg Bank reiterated a “buy” rating and issued a $160.00 target price on shares of Accenture in a report on Thursday, September 21st. Cowen reiterated a “buy” rating and issued a $150.00 target price (up from $135.00) on shares of Accenture in a report on Tuesday, September 19th. Societe Generale downgraded Accenture from a “buy” rating to a “hold” rating and set a $144.00 target price for the company. in a report on Thursday, September 28th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $144.00 target price on shares of Accenture in a report on Tuesday, October 3rd. Finally, KeyCorp reiterated a “buy” rating and issued a $135.00 target price on shares of Accenture in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $145.77.

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About Accenture

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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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