Accenture PLC (NYSE:ACN) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Accenture PLC (NYSE:ACN) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,892,307 shares of the information technology services provider’s stock after selling 38,251 shares during the quarter. Bank of New York Mellon Corp owned about 1.93% of Accenture worth $1,606,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Accenture by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after purchasing an additional 1,088,676 shares in the last quarter. BlackRock Inc. grew its position in shares of Accenture by 3.0% in the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after purchasing an additional 1,196,578 shares in the last quarter. Capital Research Global Investors grew its position in shares of Accenture by 2.2% in the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after purchasing an additional 605,156 shares in the last quarter. State Street Corp grew its position in shares of Accenture by 2.7% in the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after purchasing an additional 665,860 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Accenture by 0.8% in the second quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock valued at $1,172,063,000 after purchasing an additional 70,740 shares in the last quarter. 72.51% of the stock is owned by institutional investors.

A number of research analysts recently commented on ACN shares. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Monday, August 28th. Stifel Nicolaus upped their price target on Accenture from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. KeyCorp restated a “buy” rating and set a $149.00 price target on shares of Accenture in a research note on Sunday, October 29th. Pivotal Research started coverage on Accenture in a research report on Wednesday, November 8th. They set a “buy” rating and a $165.00 price objective on the stock. Finally, Cowen set a $150.00 price objective on Accenture and gave the stock a “buy” rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $144.38.

In other Accenture 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 value of $86,651.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard P. Clark sold 3,155 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $143.01, for a total transaction of $451,196.55. Following the completion of the sale, the insider now directly owns 5,533 shares of the company’s stock, valued at approximately $791,274.33. The disclosure for this sale can be found here. Insiders have sold a total of 83,325 shares of company stock worth $11,479,125 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Shares of Accenture PLC (NYSE ACN) traded up $0.33 on Thursday, hitting $148.60. 1,526,446 shares of the stock were exchanged, compared to its average volume of 2,114,250. Accenture PLC has a fifty-two week low of $112.31 and a fifty-two week high of $148.66. The stock has a market cap of $97,456.00, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.08.

Accenture (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. The firm had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. analysts expect that Accenture PLC will post 6.54 earnings per share for the current year.

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, October 19th were issued a dividend of $1.33 per share. The ex-dividend date was Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture’s payout ratio is 48.90%.

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Accenture 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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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