Accenture PLC (ACN) Holdings Cut by Cibc World Markets Corp
Cibc World Markets Corp lowered its holdings in Accenture PLC (NYSE:ACN) by 22.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,627 shares of the information technology services provider’s stock after selling 25,162 shares during the quarter. Cibc World Markets Corp’s holdings in Accenture PLC were worth $10,838,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Accenture PLC in the second quarter worth $533,000. TCI Wealth Advisors Inc. increased its stake in shares of Accenture PLC by 23.4% in the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 162 shares during the period. Bellwether Investment Group LLC increased its stake in shares of Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after acquiring an additional 359 shares during the period. Manchester Capital Management LLC increased its stake in shares of Accenture PLC by 7.0% in the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Accenture PLC in the first quarter worth $122,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.
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ACN has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Monday, August 28th. Stifel Nicolaus increased their price objective on shares of Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Cowen and Company increased their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a “hold” rating and issued a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Finally, Morgan Stanley increased their price objective on shares of Accenture PLC from $132.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $141.84.
Accenture PLC (NYSE:ACN) opened at 137.42 on Thursday. The stock has a market capitalization of $84.86 billion, a P/E ratio of 25.25 and a beta of 1.08. The stock has a 50 day moving average of $135.67 and a 200 day moving average of $127.09. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $140.00.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. The firm had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. On average, analysts expect that Accenture PLC will post $6.56 earnings per share for the current year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be paid a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s payout ratio is 44.49%.
In related news, insider Richard Lumb sold 2,200 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.06, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel T. London sold 637 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $136.03, for a total transaction of $86,651.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,110 shares of company stock worth $8,573,675. 0.21% of the stock is owned by corporate insiders.
Accenture PLC 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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