Front Barnett Associates LLC Boosts Stake in Accenture Plc (ACN)

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Front Barnett Associates LLC grew its holdings in Accenture Plc (NYSE:ACN) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,899 shares of the information technology services provider’s stock after acquiring an additional 1,040 shares during the quarter. Accenture accounts for 2.4% of Front Barnett Associates LLC’s portfolio, making the stock its 12th largest holding. Front Barnett Associates LLC’s holdings in Accenture were worth $15,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. Principal Financial Group Inc. grew its holdings in Accenture by 4.6% in the first quarter. Principal Financial Group Inc. now owns 1,269,667 shares of the information technology services provider’s stock worth $194,894,000 after purchasing an additional 55,510 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Accenture by 91.3% in the second quarter. Fisher Asset Management LLC now owns 6,873 shares of the information technology services provider’s stock worth $1,124,000 after purchasing an additional 3,280 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Accenture by 109.4% in the second quarter. Capital Investment Advisors LLC now owns 3,224 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 1,684 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Accenture by 1,090.5% in the second quarter. Handelsbanken Fonder AB now owns 50,000 shares of the information technology services provider’s stock worth $8,180,000 after purchasing an additional 45,800 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in Accenture by 5.6% in the second quarter. Xact Kapitalforvaltning AB now owns 137,270 shares of the information technology services provider’s stock worth $22,456,000 after purchasing an additional 7,253 shares during the last quarter. 70.27% of the stock is owned by institutional investors.

Several equities analysts have issued reports on the stock. Moffett Nathanson assumed coverage on shares of Accenture in a report on Thursday, October 4th. They issued a “buy” rating and a $200.00 price target on the stock. SunTrust Banks lifted their price target on shares of Accenture to $178.00 and gave the stock a “hold” rating in a report on Monday, October 1st. Argus reaffirmed a “buy” rating on shares of Accenture in a report on Monday, October 1st. BMO Capital Markets lifted their price target on shares of Accenture to $180.00 and gave the stock a “market perform” rating in a report on Friday, September 28th. Finally, Robert W. Baird lifted their price target on shares of Accenture from $174.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and a consensus target price of $176.37.

In related news, CEO Pierre Nanterme sold 30,117 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $160.86, for a total transaction of $321,720.00. Following the transaction, the insider now owns 117,807 shares of the company’s stock, valued at $18,950,434.02. The disclosure for this sale can be found here. Insiders have sold 78,717 shares of company stock valued at $13,036,590 over the last quarter. Insiders own 0.21% of the company’s stock.

NYSE:ACN opened at $165.15 on Friday. Accenture Plc has a 12 month low of $142.70 and a 12 month high of $175.64. The firm has a market cap of $108.85 billion, a PE ratio of 24.50, a P/E/G ratio of 2.20 and a beta of 1.01.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The business had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts predict that Accenture Plc will post 7.21 EPS for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be paid a dividend of $1.46 per share. This is an increase from Accenture’s previous semiannual dividend of $1.21. This represents a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, October 17th. Accenture’s payout ratio is presently 43.32%.

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Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

Read More: Reverse Stock Split

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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