Isthmus Partners LLC Cuts Stock Position in Accenture plc (NYSE:ACN)

Isthmus Partners LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,512 shares of the information technology services provider’s stock after selling 1,245 shares during the period. Accenture accounts for approximately 1.7% of Isthmus Partners LLC’s holdings, making the stock its 20th biggest position. Isthmus Partners LLC’s holdings in Accenture were worth $9,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Asset Management LLC boosted its holdings in shares of Accenture by 12.4% during the 2nd quarter. Trust Asset Management LLC now owns 5,743 shares of the information technology services provider’s stock valued at $1,693,000 after purchasing an additional 635 shares during the last quarter. TownSquare Capital LLC lifted its stake in Accenture by 8.1% in the first quarter. TownSquare Capital LLC now owns 103,647 shares of the information technology services provider’s stock worth $28,631,000 after purchasing an additional 7,734 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Accenture by 8.3% in the first quarter. Glenmede Trust Co. NA now owns 616,731 shares of the information technology services provider’s stock worth $170,370,000 after purchasing an additional 47,124 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Accenture by 9.5% in the first quarter. Comgest Global Investors S.A.S. now owns 1,619,634 shares of the information technology services provider’s stock worth $447,424,000 after purchasing an additional 141,064 shares during the last quarter. Finally, Van Leeuwen & Company LLC bought a new stake in Accenture in the second quarter worth about $2,306,000. 73.20% of the stock is owned by institutional investors and hedge funds.

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $314.20, for a total transaction of $1,413,900.00. Following the transaction, the chief financial officer now directly owns 16,131 shares of the company’s stock, valued at $5,068,360.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ellyn Shook sold 2,600 shares of Accenture stock in a transaction that occurred on Friday, July 23rd. The shares were sold at an average price of $317.47, for a total transaction of $825,422.00. Following the transaction, the insider now directly owns 19,420 shares in the company, valued at $6,165,267.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,993 shares of company stock valued at $6,194,020 over the last 90 days. 0.07% of the stock is currently owned by insiders.

Shares of NYSE ACN traded up $2.81 during mid-day trading on Wednesday, reaching $343.53. The company had a trading volume of 14,049 shares, compared to its average volume of 1,911,498. The stock has a market cap of $218.02 billion, a P/E ratio of 38.04, a PEG ratio of 3.48 and a beta of 1.11. The firm has a 50 day simple moving average of $324.95 and a two-hundred day simple moving average of $296.70. Accenture plc has a 52-week low of $210.42 and a 52-week high of $345.52.

Accenture (NYSE:ACN) last released its earnings results on Wednesday, June 23rd. The information technology services provider reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.16. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The company had revenue of $13.26 billion during the quarter, compared to analysts’ expectations of $12.81 billion. During the same quarter last year, the business earned $1.90 EPS. The business’s revenue was up 20.7% on a year-over-year basis. Research analysts predict that Accenture plc will post 8.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, July 15th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Wednesday, July 14th. Accenture’s dividend payout ratio (DPR) is 47.18%.

ACN has been the topic of a number of research reports. Citigroup raised their target price on shares of Accenture from $310.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Barclays lifted their price objective on shares of Accenture from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Monday, June 28th. Susquehanna Bancshares raised their target price on shares of Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Friday, June 25th. Jefferies Financial Group began coverage on shares of Accenture in a research note on Monday, June 21st. They issued a “hold” rating and a $309.00 target price for the company. Finally, Redburn Partners upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $318.65 target price for the company in a research note on Monday, July 26th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $322.99.

Accenture Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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