Atwater Malick LLC Has $9.95 Million Stock Holdings in Accenture plc (NYSE:ACN)

Atwater Malick LLC increased its stake in Accenture plc (NYSE:ACN) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,105 shares of the information technology services provider’s stock after acquiring an additional 134 shares during the quarter. Accenture accounts for approximately 5.3% of Atwater Malick LLC’s portfolio, making the stock its 2nd largest position. Atwater Malick LLC’s holdings in Accenture were worth $9,951,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GM Advisory Group Inc. increased its position in shares of Accenture by 1.4% during the second quarter. GM Advisory Group Inc. now owns 2,170 shares of the information technology services provider’s stock valued at $640,000 after buying an additional 31 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in shares of Accenture by 1.8% during the second quarter. Carolinas Wealth Consulting LLC now owns 1,797 shares of the information technology services provider’s stock worth $530,000 after purchasing an additional 31 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Accenture by 0.3% during the second quarter. Kestra Private Wealth Services LLC now owns 10,798 shares of the information technology services provider’s stock worth $3,183,000 after purchasing an additional 33 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Accenture by 0.3% during the second quarter. Cullen Frost Bankers Inc. now owns 12,744 shares of the information technology services provider’s stock worth $3,757,000 after purchasing an additional 34 shares in the last quarter. Finally, Mission Wealth Management LP grew its holdings in shares of Accenture by 1.3% during the second quarter. Mission Wealth Management LP now owns 2,852 shares of the information technology services provider’s stock worth $841,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

In other Accenture news, insider Jean-Marc Ollagnier sold 581 shares of the stock in a transaction on Monday, September 27th. The stock was sold at an average price of $334.78, for a total value of $194,507.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 5,602 shares of the stock in a transaction on Monday, November 1st. The stock was sold at an average price of $354.33, for a total value of $1,984,956.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,219 shares of company stock valued at $9,512,564. 0.07% of the stock is owned by corporate insiders.

Shares of Accenture stock traded up $1.67 during midday trading on Thursday, reaching $362.37. 2,191,459 shares of the company’s stock traded hands, compared to its average volume of 1,931,097. The company has a market cap of $229.07 billion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. The stock has a 50 day moving average of $347.66 and a 200-day moving average of $321.90. Accenture plc has a 12 month low of $241.73 and a 12 month high of $374.92.

Accenture (NYSE:ACN) last announced its earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.01. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.42 billion. Accenture had a return on equity of 29.50% and a net margin of 11.69%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. Research analysts anticipate that Accenture plc will post 10.12 EPS for the current year.

Accenture declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 23rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Thursday, October 14th were issued a $0.97 dividend. This is an increase from Accenture’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, October 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.07%. Accenture’s dividend payout ratio is 42.40%.

Several brokerages have recently commented on ACN. BMO Capital Markets boosted their price objective on Accenture from $330.00 to $385.00 and gave the stock a “market perform” rating in a report on Friday, September 24th. Morgan Stanley boosted their price objective on Accenture from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on Accenture from $310.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, September 16th. Stifel Nicolaus upped their target price on Accenture from $342.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, September 23rd. Finally, Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $374.00 target price for the company in a research note on Wednesday, October 27th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Buy” and an average price target of $356.59.

About Accenture

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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