Redpoint Investment Management Pty Ltd lifted its holdings in shares of Accenture plc (NYSE:ACN) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,578 shares of the information technology services provider’s stock after acquiring an additional 1,102 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Accenture were worth $4,330,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Asset Dedication LLC raised its holdings in Accenture by 48.9% in the 3rd quarter. Asset Dedication LLC now owns 140 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Schulhoff & Co. Inc. increased its stake in shares of Accenture by 0.3% in the 3rd quarter. Schulhoff & Co. Inc. now owns 13,561 shares of the information technology services provider’s stock valued at $3,064,000 after acquiring an additional 47 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of Accenture by 1.4% in the 3rd quarter. Clearstead Advisors LLC now owns 3,362 shares of the information technology services provider’s stock valued at $760,000 after acquiring an additional 47 shares in the last quarter. Walter & Keenan Financial Consulting Co. MI ADV increased its stake in shares of Accenture by 0.5% in the 3rd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 10,477 shares of the information technology services provider’s stock valued at $2,368,000 after acquiring an additional 50 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Accenture by 19.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 307 shares of the information technology services provider’s stock valued at $69,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 70.99% of the company’s stock.
In other Accenture news, Chairman David Rowland sold 10,938 shares of Accenture stock in a transaction on Monday, October 19th. The stock was sold at an average price of $229.30, for a total value of $2,508,083.40. Following the sale, the chairman now owns 25,170 shares in the company, valued at $5,771,481. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard P. Clark sold 1,847 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $230.59, for a total value of $425,899.73. Following the completion of the transaction, the chief accounting officer now directly owns 12,225 shares in the company, valued at approximately $2,818,962.75. The disclosure for this sale can be found here. Insiders have sold a total of 3,731,766 shares of company stock valued at $158,408,073 in the last 90 days. Insiders own 0.07% of the company’s stock.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, December 16th. The information technology services provider reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.12. The firm had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.36 billion. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. As a group, analysts anticipate that Accenture plc will post 8.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Thursday, January 14th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, January 13th. Accenture’s payout ratio is currently 47.18%.
A number of equities analysts have issued reports on the stock. Wedbush lifted their price objective on shares of Accenture from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Morgan Stanley increased their price objective on Accenture from $263.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, December 15th. Citigroup raised their target price on Accenture from $247.00 to $269.00 and gave the stock a “buy” rating in a research report on Sunday, September 20th. BMO Capital Markets upped their price target on Accenture from $250.00 to $290.00 and gave the company a “market perform” rating in a research report on Friday, December 18th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group started coverage on Accenture in a report on Thursday, November 19th. They issued a “buy” rating and a $278.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Accenture presently has a consensus rating of “Buy” and an average price target of $248.07.
Accenture Company Profile
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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