Millennium Management LLC Lowers Position in Accenture Plc (ACN)

Millennium Management LLC reduced its position in Accenture Plc (NYSE:ACN) by 74.2% during the second quarter, HoldingsChannel.com reports. The fund owned 54,532 shares of the information technology services provider’s stock after selling 156,459 shares during the quarter. Millennium Management LLC’s holdings in Accenture were worth $8,921,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Boston Advisors LLC increased its position in shares of Accenture by 0.9% during the second quarter. Boston Advisors LLC now owns 33,207 shares of the information technology services provider’s stock valued at $5,432,000 after buying an additional 312 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Accenture by 48.3% during the second quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock valued at $162,000 after buying an additional 329 shares during the period. Baldwin Investment Management LLC increased its position in shares of Accenture by 2.9% during the second quarter. Baldwin Investment Management LLC now owns 12,491 shares of the information technology services provider’s stock valued at $2,043,000 after buying an additional 351 shares during the period. Schulhoff & Co. Inc. increased its position in shares of Accenture by 2.6% during the second quarter. Schulhoff & Co. Inc. now owns 13,938 shares of the information technology services provider’s stock valued at $2,280,000 after buying an additional 354 shares during the period. Finally, Ironwood Investment Counsel LLC increased its position in shares of Accenture by 3.4% during the second quarter. Ironwood Investment Counsel LLC now owns 11,108 shares of the information technology services provider’s stock valued at $1,817,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 70.22% of the company’s stock.

ACN has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Accenture from $170.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, June 21st. Pivotal Research set a $180.00 price target on Accenture and gave the company a “buy” rating in a research report on Friday, June 29th. Deutsche Bank upped their price target on Accenture from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, June 29th. Berenberg Bank upgraded Accenture to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, September 27th. Finally, Argus reiterated a “buy” rating on shares of Accenture in a research report on Monday, October 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $176.37.

Shares of NYSE ACN opened at $169.90 on Tuesday. Accenture Plc has a 12 month low of $136.03 and a 12 month high of $175.64. The stock has a market cap of $114.83 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The company had revenue of $10.15 billion during the quarter, compared to analyst estimates of $10.01 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Accenture’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts forecast that Accenture Plc will post 7.24 EPS for the current fiscal year.

The company also recently announced a semiannual dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th will be paid a $1.46 dividend. The ex-dividend date is Wednesday, October 17th. This represents a yield of 1.68%. This is a positive change from Accenture’s previous semiannual dividend of $1.21. Accenture’s dividend payout ratio is currently 39.47%.

In other Accenture news, insider Ellyn Shook sold 4,375 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $168.02, for a total value of $735,087.50. Following the completion of the sale, the insider now owns 31,707 shares of the company’s stock, valued at $5,327,410.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Rowland sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $166.65, for a total value of $249,975.00. Following the completion of the sale, the chief financial officer now directly owns 17,843 shares of the company’s stock, valued at approximately $2,973,535.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,272 shares of company stock valued at $8,929,801. 0.21% of the stock is owned by insiders.

Accenture Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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