Cubist Systematic Strategies LLC trimmed its holdings in Accenture Plc (NYSE:ACN) by 55.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,439 shares of the information technology services provider’s stock after selling 17,848 shares during the period. Cubist Systematic Strategies LLC’s holdings in Accenture were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Commonwealth Bank of Australia lifted its holdings in shares of Accenture by 4.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 52,871 shares of the information technology services provider’s stock worth $8,644,000 after acquiring an additional 2,364 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Accenture by 13.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock worth $636,010,000 after acquiring an additional 466,745 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of Accenture during the 1st quarter worth $357,000. BlackRock Inc. lifted its holdings in shares of Accenture by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock worth $7,063,106,000 after acquiring an additional 826,900 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its holdings in shares of Accenture by 0.7% during the 2nd quarter. Donaldson Capital Management LLC now owns 192,788 shares of the information technology services provider’s stock worth $31,538,000 after acquiring an additional 1,362 shares during the last quarter. Institutional investors and hedge funds own 70.22% of the company’s stock.
In related news, CEO Pierre Nanterme sold 30,117 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel T. London sold 1,930 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $160.36, for a total transaction of $309,494.80. The disclosure for this sale can be found here. Insiders have sold 52,272 shares of company stock worth $8,929,801 in the last three months. 0.21% of the stock is currently owned by insiders.
Shares of NYSE ACN traded down $0.63 during midday trading on Friday, hitting $171.23. 1,485,784 shares of the company traded hands, compared to its average volume of 2,175,980. Accenture Plc has a 12-month low of $135.72 and a 12-month high of $175.64. The stock has a market capitalization of $114.83 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.28 and a beta of 0.98.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Accenture’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Accenture Plc will post 7.24 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be paid a dividend of $1.46 per share. The ex-dividend date is Wednesday, October 17th. This represents a yield of 1.68%. This is a positive change from Accenture’s previous semiannual dividend of $1.21. Accenture’s payout ratio is presently 39.47%.
A number of analysts have recently issued reports on the stock. Moffett Nathanson initiated coverage on shares of Accenture in a report on Thursday. They set a “buy” rating and a $200.00 price objective for the company. SunTrust Banks boosted their price target on shares of Accenture to $178.00 and gave the stock a “hold” rating in a research note on Monday, October 1st. Argus reissued a “buy” rating on shares of Accenture in a research note on Monday, October 1st. BMO Capital Markets boosted their price target on shares of Accenture to $180.00 and gave the stock a “market perform” rating in a research note on Friday, September 28th. Finally, Robert W. Baird boosted their price target on shares of Accenture from $174.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, September 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $176.37.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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