BB&T Corp Reduces Stake in Accenture Plc (ACN)
BB&T Corp lessened its position in Accenture Plc (NYSE:ACN) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,336 shares of the information technology services provider’s stock after selling 5,424 shares during the period. Accenture makes up 0.7% of BB&T Corp’s holdings, making the stock its 28th largest position. BB&T Corp’s holdings in Accenture were worth $39,885,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Coastline Trust Co grew its holdings in shares of Accenture by 1.2% in the 3rd quarter. Coastline Trust Co now owns 30,006 shares of the information technology services provider’s stock worth $5,107,000 after acquiring an additional 360 shares during the last quarter. CAPROCK Group Inc. grew its holdings in shares of Accenture by 5.2% in the 3rd quarter. CAPROCK Group Inc. now owns 7,380 shares of the information technology services provider’s stock worth $1,256,000 after acquiring an additional 367 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Accenture by 13.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 13,760 shares of the information technology services provider’s stock worth $2,342,000 after acquiring an additional 1,634 shares during the last quarter. First American Bank acquired a new position in shares of Accenture in the 3rd quarter worth $9,802,000. Finally, WoodTrust Financial Corp grew its holdings in shares of Accenture by 2.0% in the 3rd quarter. WoodTrust Financial Corp now owns 22,097 shares of the information technology services provider’s stock worth $3,761,000 after acquiring an additional 424 shares during the last quarter. 70.22% of the stock is currently owned by institutional investors.
ACN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Accenture from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. BMO Capital Markets lifted their target price on Accenture to $180.00 and gave the stock a “market perform” rating in a report on Friday, September 28th. Argus lifted their target price on Accenture to $200.00 and gave the stock a “positive” rating in a report on Friday, September 28th. They noted that the move was a valuation call. Stifel Nicolaus lifted their target price on Accenture from $170.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Credit Suisse Group set a $170.00 target price on Accenture and gave the stock a “hold” rating in a report on Friday, September 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Accenture presently has a consensus rating of “Buy” and a consensus target price of $176.37.
Shares of ACN stock traded down $2.24 on Wednesday, reaching $158.96. 91,332 shares of the company’s stock traded hands, compared to its average volume of 2,197,810. Accenture Plc has a 12-month low of $136.84 and a 12-month high of $175.64. The company has a market capitalization of $114.83 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 2.28 and a beta of 0.98.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Accenture’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts anticipate that Accenture Plc will post 7.24 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 18th will be issued a dividend of $1.46 per share. This is an increase from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date of this dividend is Wednesday, October 17th. This represents a dividend yield of 1.68%. Accenture’s payout ratio is currently 39.47%.
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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