Tower Research Capital LLC TRC purchased a new position in Accenture Plc (NYSE:ACN) during the 3rd quarter, Holdings Channel reports. The firm purchased 7,794 shares of the information technology services provider’s stock, valued at approximately $1,499,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highland Private Wealth Management boosted its position in shares of Accenture by 4.8% during the 2nd quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 66 shares in the last quarter. Brandywine Oak Private Wealth LLC acquired a new stake in shares of Accenture during the 2nd quarter valued at about $207,000. Private Trust Co. NA boosted its position in shares of Accenture by 1.6% during 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 in the last quarter. GSA Capital Partners LLP boosted its position in shares of Accenture by 17.3% during the 2nd quarter. GSA Capital Partners LLP now owns 4,689 shares of the information technology services provider’s stock valued at $866,000 after acquiring an additional 690 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Accenture during the 2nd quarter valued at about $204,000. Institutional investors own 69.66% of the company’s stock.
In other Accenture news, General Counsel Joel Unruch sold 804 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $186.68, for a total value of $150,090.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jean-Marc Ollagnier sold 2,663 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $185.21, for a total transaction of $493,214.23. Following the completion of the transaction, the insider now directly owns 165,426 shares of the company’s stock, valued at $30,638,549.46. The disclosure for this sale can be found here. Insiders have sold a total of 37,014 shares of company stock valued at $6,859,750 over the last three months. 0.18% of the stock is currently owned by insiders.
ACN has been the topic of several recent research reports. Redburn Partners initiated coverage on shares of Accenture in a research report on Monday, September 23rd. They set a “buy” rating and a $227.00 target price on the stock. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating and set a $214.00 target price on the stock. in a research report on Monday, September 9th. Barclays initiated coverage on shares of Accenture in a research report on Friday, September 20th. They set an “overweight” rating and a $228.00 target price on the stock. BMO Capital Markets set a $200.00 target price on shares of 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, KeyCorp set a $208.00 target price on shares of Accenture and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $203.25.
ACN stock traded up $3.07 during trading on Wednesday, hitting $194.50. 1,922,740 shares of the stock traded hands, compared to its average volume of 1,880,605. Accenture Plc has a one year low of $132.63 and a one year high of $202.80. The stock has a market cap of $120.59 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.36 and a beta of 1.03. The company has a 50 day simple moving average of $187.31 and a 200 day simple moving average of $187.78.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.03. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The firm 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 firm posted $1.58 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Accenture Plc will post 7.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, October 16th. Accenture’s dividend payout ratio is currently 43.48%.
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.
Featured Story: What is quantitative easing?
Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture Plc (NYSE:ACN).
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.