Asset Advisors Investment Management LLC Has $20.80 Million Stock Position in Accenture Plc (NYSE:ACN)

Asset Advisors Investment Management LLC lifted its position in shares of Accenture Plc (NYSE:ACN) by 2.7% in the third quarter, HoldingsChannel.com reports. The fund owned 108,140 shares of the information technology services provider’s stock after buying an additional 2,890 shares during the period. Accenture comprises approximately 3.3% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Asset Advisors Investment Management LLC’s holdings in Accenture were worth $20,801,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Farmers National Bank increased its position in Accenture by 6.2% in the 2nd quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock valued at $171,000 after acquiring an additional 54 shares during the period. Private Trust Co. NA increased its position in Accenture by 1.6% in the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after acquiring an additional 57 shares during the period. Modera Wealth Management LLC increased its position in Accenture by 1.5% in the 2nd quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after acquiring an additional 57 shares during the period. Enterprise Bank & Trust Co increased its position in Accenture by 0.7% in the 2nd quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock valued at $1,807,000 after acquiring an additional 65 shares during the period. Finally, Tarbox Family Office Inc. increased its position in Accenture by 34.6% in the 2nd quarter. Tarbox Family Office Inc. now owns 253 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 65 shares during the period. 69.82% of the stock is owned by institutional investors.

In related news, insider Jean-Marc Ollagnier sold 2,663 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $185.21, for a total transaction of $493,214.23. Following the completion of the sale, the insider now owns 165,426 shares in the company, valued at $30,638,549.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David Rowland sold 4,725 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $185.15, for a total transaction of $874,833.75. Following the sale, the chairman now owns 21,500 shares of the company’s stock, valued at approximately $3,980,725. The disclosure for this sale can be found here. Insiders have sold 17,805 shares of company stock valued at $3,335,099 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Shares of ACN stock opened at $184.07 on Thursday. The firm has a 50-day moving average of $190.51 and a 200-day moving average of $186.92. The company has a market cap of $122.78 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.27 and a beta of 1.04. Accenture Plc has a one year low of $132.63 and a one year high of $202.80.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. On average, equities research analysts predict that Accenture Plc will post 7.78 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a dividend yield of 1.74%. Accenture’s dividend payout ratio is currently 43.48%.

ACN has been the topic of a number of analyst reports. JPMorgan Chase & Co. set a $216.00 price objective on shares of Accenture and gave the company a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets set a $200.00 price objective on shares of Accenture and gave the company a “hold” rating in a research note on Friday, September 27th. They noted that the move was a valuation call. Credit Suisse Group set a $180.00 price objective on shares of Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. Cantor Fitzgerald set a $215.00 price objective on shares of Accenture and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Argus increased their target price on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $203.25.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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