Hayek Kallen Investment Management lowered its stake in Accenture Plc (NYSE:ACN) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,471 shares of the information technology services provider’s stock after selling 367 shares during the quarter. Accenture comprises approximately 2.1% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 20th biggest holding. Hayek Kallen Investment Management’s holdings in Accenture were worth $3,361,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lenox Wealth Advisors LLC raised its holdings in shares of Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. McIlrath & Eck LLC increased its holdings in Accenture by 125.0% during the third quarter. McIlrath & Eck LLC now owns 135 shares of the information technology services provider’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Next Capital Management LLC acquired a new position in Accenture during the second quarter worth $34,000. Cerebellum GP LLC acquired a new position in Accenture during the second quarter worth $40,000. Finally, Lipe & Dalton acquired a new position in Accenture during the second quarter worth $42,000. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. BMO Capital Markets set a $200.00 price objective on shares of Accenture and gave the company a “hold” rating in a report on Friday, September 27th. They noted that the move was a valuation call. Wells Fargo & Co upped their price objective on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Cantor Fitzgerald set a $215.00 target price on shares of Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays assumed coverage on shares of Accenture in a research report on Friday, September 20th. They issued an “overweight” rating and a $228.00 target price for the company. Finally, ValuEngine cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $203.25.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The business had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.07 billion. During the same quarter in the prior year, the business posted $1.58 earnings per share. Accenture’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Accenture Plc will post 7.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a yield of 1.69%. Accenture’s dividend payout ratio is 43.48%.
In other news, insider Ellyn Shook sold 4,688 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $183.65, for a total value of $860,951.20. Following the completion of the transaction, the insider now owns 27,271 shares of the company’s stock, valued at $5,008,319.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 804 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $186.68, for a total transaction of $150,090.72. The disclosure for this sale can be found here. Insiders sold 37,014 shares of company stock valued at $6,859,750 in the last three months. Company insiders own 0.18% of the company’s stock.
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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