Redmond Asset Management LLC Sells 68 Shares of Accenture plc (NYSE:ACN)

Redmond Asset Management LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the information technology services provider’s stock after selling 68 shares during the period. Redmond Asset Management LLC’s holdings in Accenture were worth $2,034,000 at the end of the most recent quarter.

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

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Accenture from $330.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, September 10th. Robert W. Baird restated a “hold” rating on shares of Accenture in a report on Sunday. Susquehanna raised their price objective on shares of Accenture from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Friday, June 25th. BMO Capital Markets raised their price objective on shares of Accenture from $302.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, June 25th. Finally, Societe Generale raised their price objective on shares of Accenture from $313.00 to $329.00 and gave the stock a “buy” rating in a report on Tuesday, June 15th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Buy” and a consensus price target of $326.53.

NYSE:ACN traded down $2.01 during mid-day trading on Monday, hitting $333.39. 8,375 shares of the stock traded hands, compared to its average volume of 1,926,205. The business’s 50-day moving average price is $326.76 and its 200 day moving average price is $298.46. The company has a market cap of $211.59 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11. Accenture plc has a 12-month low of $210.42 and a 12-month high of $345.52.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, July 15th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 14th. This represents a $3.52 annualized dividend and a yield of 1.06%. Accenture’s dividend payout ratio is currently 47.18%.

In other Accenture news, General Counsel Joel Unruch sold 3,394 shares of Accenture stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $293.44, for a total transaction of $995,935.36. Following the completion of the sale, the general counsel now directly owns 24,349 shares in the company, valued at $7,144,970.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $314.20, for a total transaction of $1,413,900.00. Following the completion of the sale, the chief financial officer now owns 16,131 shares of the company’s stock, valued at $5,068,360.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,993 shares of company stock valued at $6,194,020. 0.07% of the stock is owned by corporate insiders.

About Accenture

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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