Traders Sell Shares of Accenture (ACN) on Strength (ACN)
Investors sold shares of Accenture PLC (NYSE:ACN) on strength during trading on Tuesday. $49.55 million flowed into the stock on the tick-up and $120.73 million flowed out of the stock on the tick-down, for a money net flow of $71.18 million out of the stock. Of all equities tracked, Accenture had the 0th highest net out-flow for the day. Accenture traded up $1.41 for the day and closed at $152.10
A number of brokerages recently issued reports on ACN. Deutsche Bank boosted their price objective on shares of Accenture to $165.00 in a report on Monday. Robert W. Baird restated a “hold” rating and set a $155.00 price objective on shares of Accenture in a report on Thursday, December 7th. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Tuesday, November 28th. Evercore ISI boosted their price objective on shares of Accenture from $148.00 to $162.00 and gave the company a “reduce” rating in a report on Thursday, November 16th. Finally, Pivotal Research began coverage on shares of Accenture in a report on Wednesday, November 8th. They set a “buy” rating and a $165.00 price objective for the company. 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 given a strong buy rating to the company’s stock. Accenture has a consensus rating of “Buy” and a consensus price target of $145.77.
The firm has a market capitalization of $97,070.00, a PE ratio of 25.74, a P/E/G ratio of 2.25 and a beta of 1.08.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.01. The business had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.01 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. analysts predict that Accenture PLC will post 6.54 earnings per share for the current fiscal year.
The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th were given a $1.33 dividend. This represents a dividend yield of 1.97%. The ex-dividend date was Wednesday, October 18th. Accenture’s dividend payout ratio is presently 48.90%.
In other news, insider Daniel T. London sold 637 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $136.03, for a total value of $86,651.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gianfranco Casati sold 20,380 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $142.72, for a total transaction of $2,908,633.60. Following the completion of the sale, the insider now directly owns 51,014 shares in the company, valued at approximately $7,280,718.08. The disclosure for this sale can be found here. In the last three months, insiders sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Jacobi Capital Management LLC increased its holdings in Accenture by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock worth $100,000 after buying an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in Accenture by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after buying an additional 162 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Accenture by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after buying an additional 60 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Accenture during the first quarter worth $122,000. Finally, Parkside Financial Bank & Trust increased its holdings in Accenture by 5.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock worth $127,000 after buying an additional 52 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors and hedge funds.
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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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