Griffin Asset Management Inc. Has $517,000 Position in Accenture Plc (NYSE:ACN)

Griffin Asset Management Inc. increased its position in Accenture Plc (NYSE:ACN) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,687 shares of the information technology services provider’s stock after buying an additional 292 shares during the period. Griffin Asset Management Inc.’s holdings in Accenture were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ACN. Thomasville National Bank bought a new stake in Accenture during the second quarter worth approximately $208,000. Private Trust Co. NA boosted its position in shares of Accenture by 1.6% in the second quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after acquiring an additional 57 shares during the period. Swedbank boosted its position in shares of Accenture by 3.6% in the second quarter. Swedbank now owns 1,059,266 shares of the information technology services provider’s stock valued at $195,721,000 after acquiring an additional 36,428 shares during the period. Davis Rea LTD. boosted its position in shares of Accenture by 1.9% in the second quarter. Davis Rea LTD. now owns 31,794 shares of the information technology services provider’s stock valued at $5,875,000 after acquiring an additional 583 shares during the period. Finally, WINTON GROUP Ltd boosted its position in shares of Accenture by 164.8% in the second quarter. WINTON GROUP Ltd now owns 7,693 shares of the information technology services provider’s stock valued at $1,421,000 after acquiring an additional 4,788 shares during the period. 69.66% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on ACN shares. BMO Capital Markets set a $200.00 price objective on Accenture and gave the company a “hold” rating in a research report on Friday, September 27th. They noted that the move was a valuation call. KeyCorp set a $208.00 target price on Accenture and gave the company a “buy” rating in a research note on Thursday, September 26th. Redburn Partners began coverage on Accenture in a research note on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price for the company. Stifel Nicolaus set a $203.00 target price on Accenture and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Cowen restated an “outperform” rating and issued a $205.00 target price (up from $195.00) on shares of Accenture in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $203.25.

In related news, insider Ellyn Shook sold 4,688 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $183.65, for a total value of $860,951.20. Following the transaction, the insider now owns 27,271 shares in the company, valued at $5,008,319.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 804 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $186.68, for a total value of $150,090.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,014 shares of company stock worth $6,859,750. 0.18% of the stock is owned by company insiders.

Shares of NYSE:ACN traded up $0.96 during midday trading on Tuesday, reaching $191.02. The company’s stock had a trading volume of 930,075 shares, compared to its average volume of 1,647,386. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80. The company has a market capitalization of $120.59 billion, a P/E ratio of 25.95, a P/E/G ratio of 2.36 and a beta of 1.03. The business’s fifty day simple moving average is $187.34 and its 200-day simple moving average is $187.66.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. Equities analysts predict that Accenture Plc will post 7.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, October 16th. Accenture’s dividend payout ratio is 43.48%.

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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