Decatur Capital Management Inc. bought a new position in shares of Accenture Plc (NYSE:ACN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,383 shares of the information technology services provider’s stock, valued at approximately $6,037,000. Accenture accounts for 1.5% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position.
A number of other large investors have also modified their holdings of ACN. Lenox Wealth Advisors LLC boosted its position in shares of Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 101 shares during the period. Next Capital Management LLC bought a new position in shares of Accenture in the second quarter valued at approximately $34,000. Weaver Consulting Group bought a new position in shares of Accenture in the first quarter valued at approximately $39,000. Cerebellum GP LLC bought a new position in shares of Accenture in the second quarter valued at approximately $40,000. Finally, Lipe & Dalton bought a new position in shares of Accenture in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 69.84% of the company’s stock.
Shares of ACN stock traded up $2.57 during trading hours on Friday, hitting $186.40. 1,351,157 shares of the company’s stock were exchanged, compared to its average volume of 2,155,421. The company has a market capitalization of $122.43 billion, a PE ratio of 25.33, a PEG ratio of 2.27 and a beta of 1.04. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $202.80. The business’s 50 day simple moving average is $193.22 and its 200-day simple moving average is $186.03.
Accenture (NYSE:ACN) last posted its quarterly earnings results 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 firm had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. On average, sell-side analysts anticipate that Accenture Plc will post 7.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 16th. Accenture’s dividend payout ratio (DPR) is presently 39.67%.
In related news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total value of $970,000.00. Following the transaction, the insider now directly owns 36,713 shares of the company’s stock, valued at $7,122,322. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel T. London sold 2,283 shares of Accenture 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 completion of the transaction, the insider now directly owns 27,294 shares in the company, valued at $5,132,090.82. The disclosure for this sale can be found here. Insiders have sold 17,513 shares of company stock worth $3,375,582 over the last three months. Insiders own 0.18% of the company’s stock.
A number of research firms have recently commented on ACN. Credit Suisse Group set a $180.00 price objective on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Cowen reaffirmed an “outperform” rating and issued a $205.00 target price (up from $195.00) on shares of Accenture in a research note on Monday, September 30th. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating and set a $214.00 target price on the stock. in a research note on Monday, September 9th. Bank of America raised their target price on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. Finally, KeyCorp set a $208.00 target price on shares of Accenture and gave the company a “buy” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $203.25.
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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