Financial Architects Inc reduced its position in Accenture plc (NYSE:ACN) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 7,409 shares of the information technology services provider’s stock after selling 79 shares during the quarter. Financial Architects Inc’s holdings in Accenture were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Accenture by 4.5% during the first quarter. BlackRock Inc. now owns 48,229,508 shares of the information technology services provider’s stock worth $13,323,402,000 after purchasing an additional 2,060,453 shares during the last quarter. Morgan Stanley raised its stake in shares of Accenture by 0.9% during the first quarter. Morgan Stanley now owns 10,887,507 shares of the information technology services provider’s stock worth $3,007,673,000 after purchasing an additional 98,816 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Accenture by 2.4% during the first quarter. Geode Capital Management LLC now owns 9,857,830 shares of the information technology services provider’s stock worth $2,715,758,000 after purchasing an additional 230,261 shares during the last quarter. Polen Capital Management LLC raised its position in Accenture by 1.9% in the first quarter. Polen Capital Management LLC now owns 7,934,854 shares of the information technology services provider’s stock worth $2,192,004,000 after acquiring an additional 150,538 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in Accenture by 2.4% in the first quarter. WCM Investment Management LLC now owns 7,919,749 shares of the information technology services provider’s stock worth $2,187,831,000 after acquiring an additional 185,998 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.
In related news, General Counsel Joel Unruch sold 3,394 shares of the company’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $293.44, for a total transaction of $995,935.36. Following the transaction, the general counsel now directly owns 24,349 shares of the company’s stock, valued at $7,144,970.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paula A. Price sold 685 shares of the business’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $294.05, for a total value of $201,424.25. The disclosure for this sale can be found here. Insiders have sold 19,993 shares of company stock worth $6,194,020 over the last ninety days. 0.07% of the stock is owned by insiders.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Wednesday, June 23rd. The information technology services provider reported $2.40 EPS for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.16. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The company had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $12.81 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts anticipate that Accenture plc will post 8.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, July 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, July 14th. Accenture’s dividend payout ratio (DPR) is presently 47.18%.
ACN has been the subject of several research analyst reports. Susquehanna Bancshares increased their price objective on Accenture from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Friday, June 25th. Argus increased their price objective on Accenture from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, June 29th. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $335.00 price objective on the stock in a research note on Wednesday, June 23rd. Citigroup raised their price target on Accenture from $310.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Finally, Societe Generale raised their price target on Accenture from $313.00 to $329.00 and gave the stock a “buy” rating in a research note on Tuesday, June 15th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $322.99.
Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.
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