GQG Partners LLC Reduces Stock Position in Accenture plc (NYSE:ACN)

GQG Partners LLC decreased its holdings in Accenture plc (NYSE:ACN) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,858,118 shares of the information technology services provider’s stock after selling 218,155 shares during the quarter. Accenture accounts for about 1.6% of GQG Partners LLC’s investment portfolio, making the stock its 23rd largest position. GQG Partners LLC’s holdings in Accenture were worth $547,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. FMR LLC boosted its holdings in shares of Accenture by 9.1% in the second quarter. FMR LLC now owns 12,279,859 shares of the information technology services provider’s stock worth $3,619,980,000 after buying an additional 1,020,098 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Accenture by 1,621.1% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 608,206 shares of the information technology services provider’s stock worth $168,016,000 after acquiring an additional 572,868 shares during the period. Pensioenfonds Rail & OV bought a new stake in Accenture during the 2nd quarter worth approximately $141,343,000. Mn Services Vermogensbeheer B.V. bought a new stake in Accenture during the 2nd quarter worth approximately $115,630,000. Finally, Nuveen Asset Management LLC raised its stake in Accenture by 8.9% during the 1st quarter. Nuveen Asset Management LLC now owns 5,661,031 shares of the information technology services provider’s stock worth $1,563,860,000 after acquiring an additional 462,911 shares during the period. 73.20% of the stock is currently owned by institutional investors.

In other news, insider Jean-Marc Ollagnier sold 5,233 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.20, for a total transaction of $1,644,208.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.20, for a total transaction of $1,413,900.00. Following the sale, the chief financial officer now directly owns 16,131 shares of the company’s stock, valued at $5,068,360.20. The disclosure for this sale can be found here. Insiders have sold 16,495 shares of company stock valued at $5,215,175 over the last ninety days. 0.07% of the stock is owned by insiders.

A number of equities research analysts have commented on the stock. Argus raised their target price on shares of Accenture from $330.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Citigroup raised their target price on shares of Accenture from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Barclays lifted their price objective on shares of Accenture from $335.00 to $384.00 and gave the company an “overweight” rating in a research report on Monday, September 27th. Cowen lifted their price objective on shares of Accenture from $316.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday, September 8th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated a “hold” rating on shares of Accenture in a research report on Sunday, September 19th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Buy” and a consensus target price of $352.42.

NYSE ACN traded up $6.87 on Thursday, hitting $337.05. 25,296 shares of the stock were exchanged, compared to its average volume of 1,943,247. The stock has a fifty day moving average price of $331.50 and a two-hundred day moving average price of $306.52. The firm has a market capitalization of $213.91 billion, a P/E ratio of 36.93, a P/E/G ratio of 3.48 and a beta of 1.11. Accenture plc has a 52-week low of $212.45 and a 52-week high of $345.52.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.19 by $0.01. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.42 billion. Accenture had a net margin of 12.06% and a return on equity of 28.94%. Accenture’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 earnings per share. On average, research analysts forecast that Accenture plc will post 8.79 earnings per share for the current year.

Accenture announced that its board has authorized a share buyback program on Thursday, September 23rd that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 14th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.15%. This is a positive change from Accenture’s previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, October 13th. Accenture’s payout ratio is presently 47.18%.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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