California Public Employees Retirement System raised its holdings in Accenture PLC (NYSE:ACN) by 3.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,634,381 shares of the information technology services provider’s stock after buying an additional 55,462 shares during the quarter. California Public Employees Retirement System owned 0.25% of Accenture worth $220,756,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Eagle Ridge Investment Management bought a new position in shares of Accenture during the 3rd quarter worth approximately $359,000. Canada Pension Plan Investment Board raised its position in Accenture by 18.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock valued at $58,532,000 after purchasing an additional 75,100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Accenture by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock valued at $258,221,000 after buying an additional 97,760 shares during the period. Koch Industries Inc. increased its stake in shares of Accenture by 18,227.9% in the 2nd quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock valued at $327,000 after buying an additional 328,103 shares during the period. Finally, Retirement Systems of Alabama increased its stake in shares of Accenture by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock valued at $42,067,000 after buying an additional 916 shares during the period. 72.51% of the stock is currently owned by hedge funds and other institutional investors.
Accenture PLC (NYSE:ACN) opened at $150.53 on Monday. The company has a market cap of $99,343.48, a price-to-earnings ratio of 25.47, a PEG ratio of 2.23 and a beta of 1.08. Accenture PLC has a 1 year low of $112.31 and a 1 year high of $150.59.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period in the previous year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. analysts forecast that Accenture PLC will post 6.54 EPS for the current year.
The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th were issued a dividend of $1.33 per share. This represents a dividend yield of 1.97%. The ex-dividend date was Wednesday, October 18th. Accenture’s dividend payout ratio is currently 48.90%.
A number of brokerages recently commented on ACN. Berenberg Bank reaffirmed a “buy” rating and set a $160.00 price objective on shares of Accenture in a research note on Thursday, September 21st. Cowen restated a “buy” rating and issued a $150.00 price target (up from $135.00) on shares of Accenture in a report on Tuesday, September 19th. Societe Generale lowered Accenture from a “buy” rating to a “hold” rating and set a $144.00 target price on the stock. in a report on Thursday, September 28th. Susquehanna Bancshares reiterated a “neutral” rating and set a $144.00 target price on shares of Accenture in a report on Tuesday, October 3rd. Finally, KeyCorp reissued a “buy” rating and set a $135.00 price target on shares of Accenture in a research report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $144.38.
In other news, CEO Pierre Nanterme sold 38,589 shares of Accenture stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the completion of the sale, the chief executive officer now directly owns 179,083 shares of the company’s stock, valued at approximately $24,181,577.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard P. Clark sold 3,155 shares of Accenture stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.01, for a total transaction of $451,196.55. Following the sale, the insider now directly owns 5,533 shares of the company’s stock, valued at $791,274.33. The disclosure for this sale can be found here. Insiders have sold a total of 83,325 shares of company stock valued at $11,479,125 over the last ninety days. 0.21% of the stock is currently owned by insiders.
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Accenture Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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