Polen Capital Management LLC raised its position in Accenture PLC (NYSE:ACN) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,748,751 shares of the information technology services provider’s stock after acquiring an additional 334,899 shares during the quarter. Accenture PLC accounts for about 5.1% of Polen Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Polen Capital Management LLC owned approximately 0.77% of Accenture PLC worth $587,326,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ACN. Waldron LP lifted its stake in Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after buying an additional 2,756 shares during the last quarter. Swiss National Bank raised its stake in shares of Accenture PLC by 23.5% during the first quarter. Swiss National Bank now owns 2,516,617 shares of the information technology services provider’s stock valued at $301,692,000 after purchasing an additional 479,100 shares in the last quarter. World Asset Management Inc raised its stake in shares of Accenture PLC by 19.3% during the first quarter. World Asset Management Inc now owns 69,931 shares of the information technology services provider’s stock valued at $8,383,000 after purchasing an additional 11,322 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Accenture PLC during the first quarter valued at about $282,000. Finally, British Columbia Investment Management Corp raised its stake in shares of Accenture PLC by 9.0% during the first quarter. British Columbia Investment Management Corp now owns 606,894 shares of the information technology services provider’s stock valued at $72,754,000 after purchasing an additional 50,302 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.
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Several brokerages have commented on ACN. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, September 21st. Berenberg Bank reaffirmed a “buy” rating and set a $160.00 target price on shares of Accenture PLC in a research note on Thursday, September 21st. Morgan Stanley lifted their price target on Accenture PLC from $132.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd. Robert W. Baird reiterated a “neutral” rating and set a $148.00 price target (up from $142.00) on shares of Accenture PLC in a report on Friday, September 22nd. Finally, KeyCorp reiterated a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $141.84.
In other news, insider Daniel T. London sold 637 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $136.03, for a total transaction of $86,651.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.06, for a total transaction of $297,132.00. Following the sale, the insider now directly owns 118,085 shares of the company’s stock, valued at approximately $15,948,560.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,310 shares of company stock valued at $8,854,197. 0.21% of the stock is currently owned by insiders.
Accenture PLC (ACN) opened at 139.09 on Tuesday. The firm has a market cap of $85.89 billion, a price-to-earnings ratio of 25.56 and a beta of 1.08. Accenture PLC has a 52 week low of $112.31 and a 52 week high of $140.00. The stock’s 50 day moving average price is $135.07 and its 200 day moving average price is $126.75.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The company 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 firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Accenture PLC will post $6.56 EPS for the current year.
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be given a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s dividend payout ratio (DPR) is presently 44.49%.
About Accenture PLC
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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