Whitnell & Co. Grows Holdings in Accenture Plc (NYSE:ACN)

Whitnell & Co. grew its stake in Accenture Plc (NYSE:ACN) by 15.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,294 shares of the information technology services provider’s stock after acquiring an additional 1,905 shares during the period. Whitnell & Co.’s holdings in Accenture were worth $2,749,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ACN. McIlrath & Eck LLC raised its stake in shares of Accenture by 125.0% during the third quarter. McIlrath & Eck LLC now owns 135 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Front Barnett Associates LLC lifted its holdings in Accenture by 1.0% in the 3rd quarter. Front Barnett Associates LLC now owns 91,084 shares of the information technology services provider’s stock worth $17,520,000 after purchasing an additional 901 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in Accenture by 2.8% in the 3rd quarter. Essex Financial Services Inc. now owns 2,795 shares of the information technology services provider’s stock worth $538,000 after purchasing an additional 77 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in Accenture by 2.6% in the 3rd quarter. Montag A & Associates Inc. now owns 9,710 shares of the information technology services provider’s stock worth $1,868,000 after purchasing an additional 245 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Accenture by 5.4% in the 3rd quarter. First Trust Advisors LP now owns 505,854 shares of the information technology services provider’s stock worth $97,301,000 after purchasing an additional 25,893 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on ACN. Robert W. Baird reduced their target price on Accenture from $212.00 to $208.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Cowen restated an “outperform” rating and issued a $205.00 target price (up from $195.00) on shares of Accenture in a report on Monday, September 30th. Stifel Nicolaus set a $203.00 target price on Accenture and gave the stock a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald set a $215.00 target price on Accenture and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, KeyCorp set a $208.00 target price on Accenture and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $203.25.

Shares of ACN stock traded up $0.61 during trading hours on Friday, reaching $189.70. 1,255,713 shares of the company’s stock were exchanged, compared to its average volume of 1,885,322. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80. The stock has a market capitalization of $125.58 billion, a P/E ratio of 25.77, a P/E/G ratio of 2.32 and a beta of 1.03. The business has a fifty day moving average price of $187.48 and a 200-day moving average price of $187.54.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.03. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Accenture Plc will post 7.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. Accenture’s dividend payout ratio (DPR) is presently 43.48%.

In other news, insider Ellyn Shook sold 4,688 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $183.65, for a total transaction of $860,951.20. Following the sale, the insider now directly owns 27,271 shares in the company, valued at $5,008,319.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 804 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $186.68, for a total value of $150,090.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,014 shares of company stock valued at $6,859,750. Corporate insiders own 0.18% of the company’s stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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