Isthmus Partners LLC Decreases Position in Accenture PLC (ACN)
Isthmus Partners LLC trimmed its position in shares of Accenture PLC (NYSE:ACN) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,964 shares of the information technology services provider’s stock after selling 529 shares during the period. Accenture PLC comprises 1.9% of Isthmus Partners LLC’s investment portfolio, making the stock its 19th largest position. Isthmus Partners LLC’s holdings in Accenture PLC were worth $6,749,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ACN. Annex Advisory Services LLC increased its stake in Accenture PLC by 8.5% in the 3rd quarter. Annex Advisory Services LLC now owns 8,980 shares of the information technology services provider’s stock worth $1,213,000 after purchasing an additional 700 shares during the period. Cullen Frost Bankers Inc. increased its stake in Accenture PLC by 7.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 8,504 shares of the information technology services provider’s stock worth $1,149,000 after purchasing an additional 624 shares during the period. First Personal Financial Services increased its stake in Accenture PLC by 2.4% in the 3rd quarter. First Personal Financial Services now owns 58,475 shares of the information technology services provider’s stock worth $7,898,000 after purchasing an additional 1,355 shares during the period. State of Tennessee Treasury Department increased its stake in Accenture PLC by 28.0% in the 3rd quarter. State of Tennessee Treasury Department now owns 217,026 shares of the information technology services provider’s stock worth $29,313,000 after purchasing an additional 47,426 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in Accenture PLC by 31.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 918,473 shares of the information technology services provider’s stock worth $124,058,000 after purchasing an additional 219,301 shares during the period. 77.73% of the stock is currently owned by institutional investors.
ACN has been the topic of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research note on Friday, July 28th. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Monday, August 28th. Stifel Nicolaus lifted their price target on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Finally, Bank of America Corporation began coverage on Accenture PLC in a research report on Tuesday, September 12th. They issued a “buy” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Accenture PLC presently has a consensus rating of “Buy” and a consensus price target of $142.89.
Shares of Accenture PLC (NYSE ACN) opened at $144.26 on Thursday. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $145.50. The company has a market capitalization of $95,667.52, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last released its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The business had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that Accenture PLC will post 6.54 EPS for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th were issued a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date was Wednesday, October 18th. Accenture PLC’s dividend payout ratio (DPR) is 48.90%.
In other Accenture PLC news, insider Gianfranco Casati sold 20,380 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $142.72, for a total value of $2,908,633.60. Following the sale, the insider now directly owns 51,014 shares of the company’s stock, valued at $7,280,718.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Pierre Nanterme sold 38,589 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $135.03, for a total value of $5,210,672.67. Following the completion of the sale, the chief executive officer now directly owns 179,083 shares in the company, valued at $24,181,577.49. The disclosure for this sale can be found here. Insiders sold 83,325 shares of company stock worth $11,479,125 over the last three months. Corporate insiders own 0.21% of the company’s stock.
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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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