Public Employees Retirement Association of Colorado lowered its stake in shares of Accenture Plc (NYSE:ACN) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,046,985 shares of the information technology services provider’s stock after selling 7,591 shares during the period. Accenture accounts for 1.2% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 14th biggest position. Public Employees Retirement Association of Colorado’s holdings in Accenture were worth $201,388,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in ACN. Lenox Wealth Advisors LLC grew its holdings in Accenture by 297.1% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Accenture by 125.0% in the third quarter. McIlrath & Eck LLC now owns 135 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Next Capital Management LLC acquired a new stake in Accenture in the second quarter valued at about $34,000. Cerebellum GP LLC acquired a new stake in Accenture in the second quarter valued at about $40,000. Finally, Lipe & Dalton acquired a new stake in Accenture in the second quarter valued at about $42,000. Institutional investors own 69.98% of the company’s stock.
Several research firms recently weighed in on ACN. ValuEngine lowered Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald set a $215.00 target price on Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays assumed coverage on Accenture in a research report on Friday, September 20th. They issued an “overweight” rating and a $228.00 target price for the company. BMO Capital Markets set a $200.00 target price on Accenture and gave the company a “hold” rating in a research report on Friday, September 27th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $216.00 target price on Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. One research 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. The company presently has an average rating of “Buy” and an average price target of $203.25.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.03. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.07 billion. During the same period last year, the company earned $1.58 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Accenture Plc will post 7.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.69%. Accenture’s dividend payout ratio (DPR) is 43.48%.
In other Accenture news, CEO Julie Spellman Sweet sold 12,961 shares of Accenture stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $185.69, for a total value of $2,406,728.09. Following the completion of the sale, the chief executive officer now directly owns 22,702 shares in the company, valued at $4,215,534.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Richard P. Clark sold 2,752 shares of Accenture stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $185.70, for a total value of $511,046.40. The disclosure for this sale can be found here. Insiders have sold 37,014 shares of company stock valued at $6,859,750 over the last 90 days. 0.18% of the stock is owned by corporate insiders.
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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