Legacy Advisors LLC Has $603,000 Position in Accenture Plc (ACN)

Legacy Advisors LLC increased its position in shares of Accenture Plc (NYSE:ACN) by 466.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,542 shares of the information technology services provider’s stock after purchasing an additional 2,917 shares during the quarter. Legacy Advisors LLC’s holdings in Accenture were worth $603,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI boosted its holdings in Accenture by 17.0% during the second quarter. Zurich Insurance Group Ltd FI now owns 134,458 shares of the information technology services provider’s stock worth $21,996,000 after purchasing an additional 19,496 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in Accenture by 4.7% in the second quarter. Commonwealth Bank of Australia now owns 52,871 shares of the information technology services provider’s stock valued at $8,644,000 after acquiring an additional 2,364 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Accenture by 13.6% in the second quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock valued at $636,010,000 after acquiring an additional 466,745 shares during the last quarter. HM Payson & Co. boosted its stake in Accenture by 2.5% in the second quarter. HM Payson & Co. now owns 235,334 shares of the information technology services provider’s stock valued at $38,498,000 after acquiring an additional 5,679 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in Accenture by 51.1% in the second quarter. Putnam Investments LLC now owns 507,768 shares of the information technology services provider’s stock valued at $83,065,000 after acquiring an additional 171,759 shares during the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.

Shares of ACN stock opened at $156.20 on Friday. The company has a market cap of $107.21 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 2.13 and a beta of 0.98. Accenture Plc has a 12 month low of $136.84 and a 12 month high of $175.64.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. Accenture’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. As a group, research analysts predict that Accenture Plc will post 7.21 earnings per share for the current fiscal year.

The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be paid a dividend of $1.46 per share. This is a boost from Accenture’s previous semiannual dividend of $1.21. This represents a dividend yield of 1.68%. The ex-dividend date is Wednesday, October 17th. Accenture’s dividend payout ratio is presently 43.32%.

A number of research firms have weighed in on ACN. Pivotal Research set a $180.00 target price on shares of Accenture and gave the company a “buy” rating in a research note on Friday, June 29th. SunTrust Banks boosted their target price on shares of Accenture to $178.00 and gave the company a “hold” rating in a research note on Monday, October 1st. UBS Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a research note on Wednesday, September 26th. Deutsche Bank boosted their target price on shares of Accenture from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, June 29th. Finally, Susquehanna Bancshares upgraded shares of Accenture from a “neutral” rating to a “positive” rating in a research note on Wednesday, June 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Accenture currently has an average rating of “Buy” and an average price target of $176.37.

In related news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $160.63, for a total transaction of $321,260.00. Following the sale, the insider now owns 117,683 shares of the company’s stock, valued at approximately $18,903,420.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 1,170 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $171.40, for a total transaction of $200,538.00. Following the sale, the director now directly owns 4,582 shares in the company, valued at approximately $785,354.80. The disclosure for this sale can be found here. Insiders have sold a total of 47,567 shares of company stock worth $8,133,217 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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