Unified Trust Company N.A. boosted its stake in Accenture plc (NYSE:ACN) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,147 shares of the information technology services provider’s stock after purchasing an additional 1,002 shares during the period. Unified Trust Company N.A.’s holdings in Accenture were worth $4,465,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cable Hill Partners LLC acquired a new stake in Accenture in the second quarter valued at $285,000. Epoch Investment Partners Inc. boosted its position in Accenture by 1.8% during the second quarter. Epoch Investment Partners Inc. now owns 119,903 shares of the information technology services provider’s stock valued at $35,347,000 after acquiring an additional 2,083 shares during the last quarter. Intellectus Partners LLC boosted its position in Accenture by 3.3% during the second quarter. Intellectus Partners LLC now owns 4,729 shares of the information technology services provider’s stock valued at $1,394,000 after acquiring an additional 151 shares during the last quarter. Toroso Investments LLC boosted its position in Accenture by 124.7% during the second quarter. Toroso Investments LLC now owns 71,147 shares of the information technology services provider’s stock valued at $20,974,000 after acquiring an additional 39,478 shares during the last quarter. Finally, Kore Private Wealth LLC boosted its position in Accenture by 12.0% during the second quarter. Kore Private Wealth LLC now owns 2,691 shares of the information technology services provider’s stock valued at $793,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.
A number of analysts have commented on the stock. upped their price target on shares of Accenture from $310.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, June 25th. BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $335.00 price target on the stock in a research report on Wednesday, June 23rd. Exane BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 23rd. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $308.00 to $364.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 17th. Finally, BMO Capital Markets increased their price objective on shares of Accenture from $330.00 to $385.00 and gave the stock a “market perform” rating in a research report on Friday, September 24th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $352.42.
NYSE:ACN traded up $7.87 on Thursday, hitting $338.05. The stock had a trading volume of 59,869 shares, compared to its average volume of 1,943,247. The stock has a market cap of $214.54 billion, a P/E ratio of 37.80, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11. Accenture plc has a 1 year low of $212.45 and a 1 year high of $345.52. The firm’s fifty day simple moving average is $331.50 and its two-hundred day simple moving average is $306.52.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.01. The firm had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.42 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 23.8% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. Research analysts expect that Accenture plc will post 8.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 14th will be paid a $0.97 dividend. This is a positive change from Accenture’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, October 13th. This represents a $3.88 annualized dividend and a yield of 1.15%. Accenture’s dividend payout ratio (DPR) is 47.18%.
Accenture declared that its board has approved a stock buyback program on Thursday, September 23rd that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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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