Security National Bank Raises Stake in Accenture plc (NYSE:ACN)

Security National Bank boosted its holdings in shares of Accenture plc (NYSE:ACN) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,852 shares of the information technology services provider’s stock after purchasing an additional 192 shares during the period. Security National Bank’s holdings in Accenture were worth $3,792,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Accenture in the second quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Accenture in the third quarter valued at about $25,000. Hanson & Doremus Investment Management boosted its holdings in shares of 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. Viridian Ria LLC purchased a new stake in shares of Accenture in the third quarter valued at about $32,000. Finally, Trustcore Financial Services LLC boosted its holdings in shares of 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. 73.00% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on ACN shares. Bank of America lifted their target price on shares of Accenture from $324.00 to $379.00 and gave the company a “buy” rating in a report on Friday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Accenture from $310.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, September 16th. Argus boosted their price objective on shares of Accenture from $330.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Robert W. Baird reissued a “hold” rating on shares of Accenture in a report on Sunday, September 19th. Finally, Barclays boosted their price objective on shares of Accenture from $335.00 to $384.00 and gave the stock an “overweight” rating in a report on Monday, September 27th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $356.59.

ACN traded up $1.67 during trading on Thursday, hitting $362.37. 2,191,459 shares of the company’s stock were exchanged, compared to its average volume of 1,931,097. Accenture plc has a 1 year low of $241.73 and a 1 year high of $374.92. The stock has a 50 day moving average price of $347.66 and a 200 day moving average price of $321.90. The firm has a market cap of $229.07 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13.

Accenture (NYSE:ACN) last released its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.01. Accenture had a net margin of 11.69% and a return on equity of 29.50%. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.42 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. Accenture’s revenue for the quarter was up 23.8% on a year-over-year basis. Sell-side analysts forecast that Accenture plc will post 10.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Thursday, October 14th were paid a dividend of $0.97 per share. This is an increase from Accenture’s previous quarterly dividend of $0.88. This represents a $3.88 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, October 13th. Accenture’s payout ratio is currently 42.40%.

Accenture announced that its board has initiated a stock repurchase plan on Thursday, September 23rd that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, insider Jean-Marc Ollagnier sold 581 shares of the company’s stock in a transaction on Monday, September 27th. The shares were sold at an average price of $334.78, for a total value of $194,507.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 5,602 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $354.33, for a total transaction of $1,984,956.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,219 shares of company stock valued at $9,512,564. 0.07% of the stock is owned by insiders.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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