Cumberland Partners Ltd Reduces Stake in Accenture PLC (ACN)

Cumberland Partners Ltd lowered its stake in Accenture PLC (NYSE:ACN) by 52.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,955 shares of the company’s stock after selling 60,455 shares during the quarter. Cumberland Partners Ltd’s holdings in Accenture PLC were worth $7,287,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eagle Ridge Investment Management bought a new position in shares of Accenture PLC in the third quarter worth about $359,000. Canada Pension Plan Investment Board lifted its holdings in shares of Accenture PLC by 18.9% in the second quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the company’s stock worth $58,532,000 after acquiring an additional 75,100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Accenture PLC by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the company’s stock valued at $258,221,000 after buying an additional 97,760 shares during the period. Retirement Systems of Alabama increased its stake in shares of Accenture PLC by 0.3% in the second quarter. Retirement Systems of Alabama now owns 340,128 shares of the company’s stock valued at $42,067,000 after buying an additional 916 shares during the period. Finally, Koch Industries Inc. increased its stake in shares of Accenture PLC by 18,227.9% in the second quarter. Koch Industries Inc. now owns 329,903 shares of the company’s stock valued at $327,000 after buying an additional 328,103 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.

In other Accenture PLC news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of C$135.06, for a total value of C$297,132.00. Following the completion of the sale, the insider now owns 118,085 shares in the company, valued at C$15,948,560.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard P. Clark sold 3,155 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of C$143.01, for a total value of C$451,196.55. Following the completion of the sale, the insider now owns 5,533 shares of the company’s stock, valued at approximately C$791,274.33. The disclosure for this sale can be found here. In the last three months, insiders sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is owned by corporate insiders.

A number of analysts have weighed in on ACN shares. Bank of America Corporation started coverage on shares of Accenture PLC in a research report on Tuesday, September 12th. They set a “buy” rating and a $150.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 6th. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Cowen and Company reiterated a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$142.89.

Shares of Accenture PLC (NYSE:ACN) opened at C$143.89 on Monday. Accenture PLC has a 1-year low of C$112.31 and a 1-year high of C$145.00. The company has a market capitalization of $94,961.36, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 28th. The company reported C$1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.47 by C$0.01. The firm had revenue of C$9.15 billion for the quarter, compared to the consensus estimate of C$9.01 billion. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. equities analysts anticipate that Accenture PLC will post 6.54 EPS for the current fiscal year.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be issued a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s dividend payout ratio is 48.90%.

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Accenture PLC Profile

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.

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

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