Rhumbline Advisers Acquires 27,506 Shares of Accenture Plc (NYSE:ACN)

Rhumbline Advisers raised its position in shares of Accenture Plc (NYSE:ACN) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,139,098 shares of the information technology services provider’s stock after acquiring an additional 27,506 shares during the period. Rhumbline Advisers owned approximately 0.17% of Accenture worth $219,106,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC boosted its holdings in shares of Accenture by 297.1% during the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 101 shares during the period. Next Capital Management LLC acquired a new stake in shares of Accenture in the second quarter valued at approximately $34,000. Cerebellum GP LLC acquired a new stake in shares of Accenture in the second quarter valued at approximately $40,000. Lipe & Dalton acquired a new stake in shares of Accenture in the second quarter valued at approximately $42,000. Finally, Ibex Wealth Advisors acquired a new stake in shares of Accenture in the second quarter valued at approximately $44,000. Institutional investors own 69.82% of the company’s stock.

ACN has been the subject of a number of analyst reports. Redburn Partners initiated coverage on shares of Accenture in a research report on Monday, September 23rd. They issued a “buy” rating and a $227.00 price target for the company. JPMorgan Chase & Co. set a $216.00 price target on shares of Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. UBS Group set a $190.00 price target on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Wells Fargo & Co lifted their price target on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald set a $215.00 price target on shares of Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Accenture presently has a consensus rating of “Buy” and an average price target of $203.25.

ACN traded up $1.07 during trading on Thursday, hitting $185.14. 65,415 shares of the stock traded hands, compared to its average volume of 2,097,697. Accenture Plc has a twelve month low of $132.63 and a twelve month high of $202.80. The company has a market cap of $122.78 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.27 and a beta of 1.04. The business has a 50 day moving average price of $190.51 and a 200 day moving average price of $186.92.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a yield of 1.73%. Accenture’s dividend payout ratio is currently 43.48%.

In other news, CEO David Rowland sold 2,330 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $187.78, for a total transaction of $437,527.40. Following the completion of the transaction, the chief executive officer now directly owns 24,318 shares in the company, valued at $4,566,434.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jean-Marc Ollagnier sold 2,663 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $185.21, for a total transaction of $493,214.23. Following the transaction, the insider now owns 165,426 shares of the company’s stock, valued at $30,638,549.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,805 shares of company stock valued at $3,335,099. Company insiders own 0.18% of the company’s stock.

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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