RDL Financial Inc. Sells 4,626 Shares of Accenture PLC (ACN)
RDL Financial Inc. reduced its holdings in shares of Accenture PLC (NYSE:ACN) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,784 shares of the information technology services provider’s stock after selling 4,626 shares during the quarter. Accenture PLC comprises 2.1% of RDL Financial Inc.’s investment portfolio, making the stock its 13th biggest position. RDL Financial Inc.’s holdings in Accenture PLC were worth $2,694,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ACN. Bellwether Investment Group LLC grew its stake in Accenture PLC by 64.2% in the 1st quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Accenture PLC by 2.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after acquiring an additional 19 shares during the period. Harbour Capital Advisors LLC bought a new stake in Accenture PLC during the 1st quarter valued at $122,000. Farmers & Merchants Investments Inc. raised its holdings in Accenture PLC by 28.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,115 shares of the information technology services provider’s stock valued at $138,000 after acquiring an additional 250 shares during the period. Finally, Monroe Bank & Trust MI raised its holdings in Accenture PLC by 37.3% during the 2nd quarter. Monroe Bank & Trust MI now owns 1,288 shares of the information technology services provider’s stock valued at $159,000 after acquiring an additional 350 shares during the period. Institutional investors own 77.73% of the company’s stock.
Shares of Accenture PLC (NYSE ACN) opened at 135.07 on Monday. The stock has a market cap of $83.41 billion, a PE ratio of 24.82 and a beta of 1.08. The stock has a 50 day moving average of $130.89 and a 200-day moving average of $124.97. Accenture PLC has a 52 week low of $109.50 and a 52 week high of $138.15.
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 for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Accenture PLC will post $6.54 earnings per share for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be paid a dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s payout ratio is presently 44.49%.
A number of research firms recently issued reports on ACN. BMO Capital Markets reiterated a “hold” rating and set a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Monday, August 28th. Wells Fargo & Company restated an “outperform” rating and issued a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. Berenberg Bank restated a “buy” rating and issued a $160.00 target price on shares of Accenture PLC in a research note on Thursday, September 21st. Finally, Robert W. Baird lifted their target price on Accenture PLC from $148.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $140.12.
In other news, insider Gianfranco Casati sold 5,000 shares of the company’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 sale, the insider now directly owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $125.00, for a total value of $550,000.00. Following the sale, the insider now directly owns 37,344 shares in the company, valued at $4,668,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,582 shares of company stock valued at $2,634,573. 0.21% of the stock is 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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