Foster & Motley Inc. Has $5.35 Million Stock Holdings in Accenture Plc (NYSE:ACN)

Foster & Motley Inc. cut its holdings in Accenture Plc (NYSE:ACN) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 27,828 shares of the information technology services provider’s stock after selling 1,334 shares during the quarter. Foster & Motley Inc.’s holdings in Accenture were worth $5,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Farmers National Bank raised its stake in shares of Accenture by 6.2% during the 2nd quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock worth $171,000 after purchasing an additional 54 shares in the last quarter. Private Trust Co. NA raised its stake 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 raised its stake 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 raised its stake 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. raised its stake 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. Institutional investors and hedge funds own 69.82% of the company’s stock.

ACN stock opened at $185.00 on Friday. The stock has a market capitalization of $123.69 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 2.29 and a beta of 1.04. The business’s fifty day moving average price is $190.28 and its two-hundred day moving average price is $186.95. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.03. The firm had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. Equities research analysts expect that Accenture Plc will post 7.78 earnings per share for the current fiscal 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. This represents a $3.20 annualized dividend and a yield of 1.73%. The ex-dividend date is Wednesday, October 16th. Accenture’s payout ratio is 43.48%.

ACN has been the topic of a number of research analyst reports. KeyCorp set a $208.00 price target on Accenture and gave the company a “buy” rating in a research note on Thursday, September 26th. Redburn Partners initiated coverage on Accenture in a research note on Monday, September 23rd. They issued a “buy” rating and a $227.00 price target on the stock. Credit Suisse Group set a $180.00 price target on Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. set a $216.00 price target on Accenture and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating and set a $214.00 price target on the stock. in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $203.25.

In other Accenture news, insider Daniel T. London sold 2,283 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total transaction of $429,272.49. Following the transaction, the insider now owns 27,294 shares in the company, valued at approximately $5,132,090.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Rowland sold 2,330 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $187.78, for a total value of $437,527.40. Following the transaction, the chief executive officer now owns 24,318 shares in the company, valued at approximately $4,566,434.04. 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 in the last quarter. 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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