State of New Jersey Common Pension Fund D Boosts Stock Position in Accenture Plc (NYSE:ACN)

State of New Jersey Common Pension Fund D raised its stake in shares of Accenture Plc (NYSE:ACN) by 116.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 496,800 shares of the information technology services provider’s stock after acquiring an additional 267,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Accenture worth $95,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. Vanguard Group Inc. increased its stake in Accenture by 1.7% in the second quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock valued at $10,231,417,000 after purchasing an additional 909,318 shares in the last quarter. Morgan Stanley grew its position in Accenture by 5.3% in the second quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock valued at $1,983,748,000 after purchasing an additional 536,568 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Accenture by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 9,411,450 shares of the information technology services provider’s stock valued at $1,738,951,000 after acquiring an additional 173,942 shares during the last quarter. WCM Investment Management LLC lifted its stake in Accenture by 2.1% in the second quarter. WCM Investment Management LLC now owns 6,303,065 shares of the information technology services provider’s stock valued at $1,164,618,000 after acquiring an additional 128,827 shares during the last quarter. Finally, Polen Capital Management LLC lifted its stake in Accenture by 3.4% in the second quarter. Polen Capital Management LLC now owns 5,841,892 shares of the information technology services provider’s stock valued at $1,079,406,000 after acquiring an additional 189,523 shares during the last quarter. Institutional investors own 69.82% of the company’s stock.

Accenture stock traded up $1.04 on Thursday, hitting $185.11. 1,110,032 shares of the stock traded hands, compared to its average volume of 2,097,697. The business’s fifty day simple moving average is $190.51 and its 200 day simple moving average is $186.92. The firm has a market cap of $122.78 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.04. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $202.80.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, topping the 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 return on equity of 34.30% and a net margin of 11.06%. Accenture’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.58 EPS. On average, equities analysts forecast that Accenture Plc will post 7.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $3.20 dividend on an annualized basis and a yield of 1.73%. Accenture’s dividend payout ratio is presently 43.48%.

ACN has been the subject of a number of research reports. Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. Argus raised their target price on shares of Accenture to $220.00 and gave the company a “buy” rating in a report on Monday, July 15th. Cantor Fitzgerald set a $215.00 target price on shares of Accenture and gave the company a “buy” rating in a 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 report on Friday, June 28th. Finally, Wells Fargo & Co lifted their target price on shares of Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. One equities research 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. The stock has a consensus rating of “Buy” and a consensus target price of $203.25.

In other Accenture news, insider Daniel T. London sold 2,283 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total value of $429,272.49. Following the transaction, the insider now owns 27,294 shares of the company’s stock, valued at approximately $5,132,090.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 804 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $186.68, for a total value of $150,090.72. The disclosure for this sale can be found here. Insiders have sold a total of 17,805 shares of company stock worth $3,335,099 over the last ninety days. Insiders own 0.18% of the company’s stock.

Accenture Profile

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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