Financial Architects Inc Sells 79 Shares of Accenture plc (NYSE:ACN)

Financial Architects Inc lessened its holdings in shares of Accenture plc (NYSE:ACN) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,409 shares of the information technology services provider’s stock after selling 79 shares during the period. Financial Architects Inc’s holdings in Accenture were worth $2,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Accenture by 4.5% during the 1st quarter. BlackRock Inc. now owns 48,229,508 shares of the information technology services provider’s stock worth $13,323,402,000 after purchasing an additional 2,060,453 shares during the last quarter. Morgan Stanley lifted its position in shares of Accenture by 0.9% during the 1st quarter. Morgan Stanley now owns 10,887,507 shares of the information technology services provider’s stock worth $3,007,673,000 after purchasing an additional 98,816 shares during the last quarter. Geode Capital Management LLC raised its holdings in Accenture by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 9,857,830 shares of the information technology services provider’s stock valued at $2,715,758,000 after acquiring an additional 230,261 shares in the last quarter. Polen Capital Management LLC raised its holdings in Accenture by 1.9% in the 1st quarter. Polen Capital Management LLC now owns 7,934,854 shares of the information technology services provider’s stock valued at $2,192,004,000 after acquiring an additional 150,538 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in Accenture by 2.4% in the 1st quarter. WCM Investment Management LLC now owns 7,919,749 shares of the information technology services provider’s stock valued at $2,187,831,000 after acquiring an additional 185,998 shares in the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on ACN shares. Royal Bank of Canada increased their price target on Accenture from $301.00 to $322.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. Jefferies Financial Group initiated coverage on Accenture in a research report on Monday, June 21st. They issued a “hold” rating and a $309.00 price target on the stock. Exane BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 23rd. Bank of America raised their price target on Accenture from $324.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Finally, Susquehanna raised their price target on Accenture from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Friday, June 25th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $322.99.

In other news, Director Paula A. Price sold 685 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $294.05, for a total transaction of $201,424.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 2,600 shares of the company’s stock in a transaction dated Friday, July 23rd. The stock was sold at an average price of $317.47, for a total transaction of $825,422.00. Following the completion of the sale, the insider now owns 19,420 shares in the company, valued at approximately $6,165,267.40. The disclosure for this sale can be found here. Insiders have sold 19,993 shares of company stock valued at $6,194,020 over the last quarter. Company insiders own 0.07% of the company’s stock.

ACN traded up $2.29 during trading on Wednesday, hitting $343.01. 21,000 shares of the stock traded hands, compared to its average volume of 1,911,498. Accenture plc has a twelve month low of $210.42 and a twelve month high of $345.52. The company has a market cap of $217.69 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 3.48 and a beta of 1.11. The business has a 50 day moving average price of $324.95 and a 200 day moving average price of $296.70.

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

The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, July 14th. This represents a $3.52 annualized dividend and a dividend yield of 1.03%. Accenture’s dividend payout ratio (DPR) is presently 47.18%.

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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