Weitz Investment Management Inc. reduced its stake in Accenture plc (NYSE:ACN) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 98,000 shares of the information technology services provider’s stock after selling 5,000 shares during the quarter. Accenture accounts for 1.2% of Weitz Investment Management Inc.’s portfolio, making the stock its 28th largest position. Weitz Investment Management Inc.’s holdings in Accenture were worth $28,889,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ACN. BlackRock Inc. lifted its holdings in shares of Accenture by 4.5% in the 1st quarter. BlackRock Inc. now owns 48,229,508 shares of the information technology services provider’s stock worth $13,323,402,000 after acquiring an additional 2,060,453 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Accenture by 1,621.1% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 608,206 shares of the information technology services provider’s stock worth $168,016,000 after acquiring an additional 572,868 shares during the last quarter. Pensioenfonds Rail & OV acquired a new position in shares of Accenture in the 2nd quarter worth approximately $141,343,000. Mn Services Vermogensbeheer B.V. acquired a new stake in Accenture during the 2nd quarter worth approximately $115,630,000. Finally, Nuveen Asset Management LLC lifted its holdings in Accenture by 8.9% during the 1st quarter. Nuveen Asset Management LLC now owns 5,661,031 shares of the information technology services provider’s stock worth $1,563,860,000 after buying an additional 462,911 shares in the last quarter. Hedge funds and other institutional investors own 73.20% of the company’s stock.
ACN has been the topic of a number of research reports. Barclays increased their target price on shares of Accenture from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Monday, June 28th. Exane BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 23rd. Morgan Stanley increased their target price on shares of Accenture from $330.00 to $380.00 and gave the stock an “overweight” rating in a report on Friday, September 10th. Argus raised their price objective on shares of Accenture from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. Finally, Robert W. Baird restated a “neutral” rating on shares of Accenture in a report on Thursday, September 9th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $322.99.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Wednesday, June 23rd. The information technology services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.16. The business had revenue of $13.26 billion during the quarter, compared to the consensus estimate of $12.81 billion. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Equities analysts predict that Accenture plc will post 8.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, July 15th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, July 14th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.03%. Accenture’s dividend payout ratio (DPR) is presently 47.18%.
In other news, COO Johan Deblaere sold 3,000 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.21, for a total transaction of $942,630.00. Following the transaction, the chief operating officer now directly owns 48,672 shares of the company’s stock, valued at $15,293,229.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $317.47, for a total transaction of $825,422.00. Following the transaction, the insider now directly owns 19,420 shares in the company, valued at $6,165,267.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,993 shares of company stock valued at $6,194,020. Insiders own 0.07% of the company’s stock.
Accenture Company Profile
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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