Pictet & Cie Europe SA Grows Stake in Accenture PLC (ACN)
Pictet & Cie Europe SA lifted its position in shares of Accenture PLC (NYSE:ACN) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,094 shares of the information technology services provider’s stock after buying an additional 1,617 shares during the quarter. Pictet & Cie Europe SA’s holdings in Accenture PLC were worth $877,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ACN. Vanguard Group Inc. lifted its stake in Accenture PLC by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after buying an additional 2,749,896 shares in the last quarter. BlackRock Inc. grew its holdings in Accenture PLC by 2,139.5% during the 1st quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after buying an additional 37,700,871 shares during the last quarter. State Street Corp increased its position in Accenture PLC by 2.7% during the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock worth $3,039,762,000 after buying an additional 665,860 shares in the last quarter. Wellington Management Group LLP increased its position in Accenture PLC by 8.8% during the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after buying an additional 1,738,262 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Accenture PLC by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock worth $1,667,243,000 after buying an additional 625,381 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.
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ACN has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research report on Thursday, September 14th. Royal Bank Of Canada lifted their price objective on Accenture PLC from $145.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $140.21.
Shares of Accenture PLC (NYSE:ACN) opened at 135.44 on Tuesday. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $138.70. The stock has a market capitalization of $83.64 billion, a P/E ratio of 24.89 and a beta of 1.08. The firm’s 50-day moving average is $132.82 and its 200 day moving average is $125.81.
Accenture PLC (NYSE:ACN) last announced its quarterly 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 business had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. On average, analysts expect that Accenture PLC will post $6.54 EPS for the current fiscal year.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be issued a $1.33 dividend. The ex-dividend date is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s dividend payout ratio is currently 44.49%.
In other Accenture PLC news, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the completion of the sale, the insider now directly owns 119,942 shares of the company’s stock, valued at $15,293,804.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the sale, the insider now directly owns 56,014 shares of the company’s stock, valued at $7,281,820. The disclosure for this sale can be found here. Insiders sold 20,582 shares of company stock worth $2,634,573 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
About Accenture PLC
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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