KCM Investment Advisors LLC Sells 805 Shares of Accenture PLC (ACN)

KCM Investment Advisors LLC trimmed its position in Accenture PLC (NYSE:ACN) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,657 shares of the information technology services provider’s stock after selling 805 shares during the period. KCM Investment Advisors LLC’s holdings in Accenture PLC were worth $4,410,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its holdings in Accenture PLC by 18.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock valued at $58,532,000 after purchasing an additional 75,100 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Accenture PLC by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock valued at $258,221,000 after purchasing an additional 97,760 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Accenture PLC by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock valued at $42,067,000 after purchasing an additional 916 shares in the last quarter. Vigilant Capital Management LLC lifted its holdings in Accenture PLC by 1.8% in the 2nd quarter. Vigilant Capital Management LLC now owns 101,619 shares of the information technology services provider’s stock valued at $12,568,000 after purchasing an additional 1,780 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in Accenture PLC by 2.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 35,664 shares of the information technology services provider’s stock valued at $4,411,000 after purchasing an additional 795 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Shares of Accenture PLC (NYSE:ACN) opened at 139.20 on Friday. The firm has a 50-day moving average of $134.60 and a 200 day moving average of $126.52. Accenture PLC has a 12 month low of $112.31 and a 12 month high of $139.65. The firm has a market cap of $85.96 billion, a P/E ratio of 25.58 and a beta of 1.08.

Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period in the previous year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Accenture PLC will post $6.56 EPS for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be issued a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s dividend payout ratio (DPR) is currently 44.49%.

ACN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Monday, August 28th. Stifel Nicolaus upped their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Cowen and Company upped their target price on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. BMO Capital Markets restated a “hold” rating and issued a $130.00 target price (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $141.84.

In related news, CEO Pierre Nanterme sold 38,589 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $135.03, for a total value of $5,210,672.67. Following the completion of the sale, the chief executive officer now directly owns 179,083 shares in the company, valued at approximately $24,181,577.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel T. London sold 637 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,310 shares of company stock valued at $8,854,197. Corporate insiders own 0.21% of the company’s stock.

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About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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