Man Group plc Has $18.41 Million Position in Accenture Plc (NYSE:ACN)

Man Group plc lessened its holdings in Accenture Plc (NYSE:ACN) by 51.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,697 shares of the information technology services provider’s stock after selling 101,991 shares during the period. Man Group plc’s holdings in Accenture were worth $18,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ACN. Nuveen Asset Management LLC boosted its position in Accenture by 32,251.5% during the second quarter. Nuveen Asset Management LLC now owns 5,585,165 shares of the information technology services provider’s stock worth $1,031,971,000 after purchasing an additional 5,567,901 shares during the period. Vanguard Group Inc. grew its stake in Accenture by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock valued at $10,231,417,000 after buying an additional 909,318 shares during the last quarter. Prudential Financial Inc. grew its stake in Accenture by 70.0% in the 2nd quarter. Prudential Financial Inc. now owns 1,732,160 shares of the information technology services provider’s stock valued at $320,051,000 after buying an additional 713,027 shares during the last quarter. Morgan Stanley raised its holdings in Accenture by 5.3% in the 2nd quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock valued at $1,983,748,000 after acquiring an additional 536,568 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Accenture by 39.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,428,158 shares of the information technology services provider’s stock valued at $274,705,000 after acquiring an additional 402,106 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on ACN shares. JPMorgan Chase & Co. set a $216.00 price objective on Accenture and gave the stock a “buy” rating in a report on Friday, September 27th. Wells Fargo & Co increased their target price on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. KeyCorp set a $208.00 price target on Accenture and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus set a $203.00 price target on Accenture and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets set a $200.00 price objective on Accenture and gave the company a “hold” rating in a report on Friday, September 27th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $203.75.

ACN stock opened at $199.59 on Tuesday. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $202.80. The stock has a market cap of $127.87 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 2.50 and a beta of 1.04. The company has a 50 day simple moving average of $191.20 and a 200 day simple moving average of $189.80.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 17th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, October 16th. Accenture’s dividend payout ratio (DPR) is 43.48%.

In other Accenture news, CEO Julie Spellman Sweet sold 12,961 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $185.69, for a total value of $2,406,728.09. Following the completion of the transaction, the chief executive officer now owns 22,702 shares of the company’s stock, valued at approximately $4,215,534.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Joel Unruch sold 804 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was 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. In the last three months, insiders have sold 37,014 shares of company stock worth $6,859,750. 0.18% of the stock is currently owned by company insiders.

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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