Accenture Plc (ACN) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its holdings in Accenture Plc (NYSE:ACN) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,700 shares of the information technology services provider’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Accenture were worth $5,932,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ACN. Oregon Public Employees Retirement Fund boosted its position in Accenture by 10,215.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock worth $175,000 after purchasing an additional 24,435,584 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Accenture by 115,500.5% in the third quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after purchasing an additional 10,213,711 shares during the last quarter. Norges Bank purchased a new position in Accenture in the fourth quarter worth $825,602,000. FMR LLC boosted its position in Accenture by 48.1% in the fourth quarter. FMR LLC now owns 6,830,316 shares of the information technology services provider’s stock worth $963,143,000 after purchasing an additional 2,217,910 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in Accenture in the third quarter worth $354,668,000. 70.14% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on ACN shares. BMO Capital Markets boosted their price objective on Accenture to $185.00 and gave the stock a “market perform” rating in a research report on Friday, March 29th. Bank of America raised Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price objective on the stock in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Citigroup raised Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $169.00 in a research report on Wednesday, January 16th. Morgan Stanley set a $178.00 price objective on Accenture and gave the stock a “buy” rating in a research report on Friday, December 21st. Finally, Robert W. Baird cut their price objective on Accenture from $176.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, December 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Accenture has a consensus rating of “Buy” and a consensus target price of $183.58.

Shares of NYSE ACN opened at $179.06 on Wednesday. Accenture Plc has a one year low of $132.63 and a one year high of $179.90. The firm has a market cap of $120.48 billion, a PE ratio of 26.57, a PEG ratio of 2.38 and a beta of 1.12.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.16. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The firm had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Accenture Plc will post 7.3 earnings per share for the current fiscal year.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a dividend of $1.46 per share. The ex-dividend date is Wednesday, April 10th. This represents a dividend yield of 1.66%. Accenture’s dividend payout ratio is presently 43.32%.

In related news, insider Richard Lumb sold 2,000 shares of the stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $148.48, for a total transaction of $296,960.00. Following the sale, the insider now owns 134,181 shares of the company’s stock, valued at approximately $19,923,194.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 2,343 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $175.83, for a total value of $411,969.69. Following the sale, the insider now directly owns 33,545 shares in the company, valued at approximately $5,898,217.35. The disclosure for this sale can be found here. Insiders have sold a total of 16,314 shares of company stock worth $2,604,645 in the last ninety days. Insiders own 0.18% of the company’s stock.

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Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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