Park Avenue Securities LLC Acquires 1,840 Shares of Accenture Plc (ACN)

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Park Avenue Securities LLC grew its holdings in Accenture Plc (NYSE:ACN) by 24.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,491 shares of the information technology services provider’s stock after purchasing an additional 1,840 shares during the quarter. Accenture makes up 0.3% of Park Avenue Securities LLC’s investment portfolio, making the stock its 29th largest position. Park Avenue Securities LLC’s holdings in Accenture were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ACN. Principal Financial Group Inc. grew its position in Accenture by 4.6% in the first quarter. Principal Financial Group Inc. now owns 1,269,667 shares of the information technology services provider’s stock worth $194,894,000 after acquiring an additional 55,510 shares in the last quarter. Fisher Asset Management LLC grew its position in Accenture by 91.3% in the second quarter. Fisher Asset Management LLC now owns 6,873 shares of the information technology services provider’s stock worth $1,124,000 after acquiring an additional 3,280 shares in the last quarter. Capital Investment Advisors LLC grew its position in Accenture by 109.4% in the second quarter. Capital Investment Advisors LLC now owns 3,224 shares of the information technology services provider’s stock worth $527,000 after acquiring an additional 1,684 shares in the last quarter. Ledyard National Bank grew its position in Accenture by 116.3% in the second quarter. Ledyard National Bank now owns 5,732 shares of the information technology services provider’s stock worth $938,000 after acquiring an additional 3,082 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Accenture by 1,090.5% in the second quarter. Handelsbanken Fonder AB now owns 50,000 shares of the information technology services provider’s stock worth $8,180,000 after acquiring an additional 45,800 shares in the last quarter. 70.27% of the stock is owned by institutional investors.

Several research firms have commented on ACN. Wolfe Research began coverage on shares of Accenture in a research report on Tuesday, July 17th. They issued an “underperform” rating for the company. SunTrust Banks upped their price objective on shares of Accenture to $178.00 and gave the stock a “hold” rating in a report on Monday, October 1st. Bank of America upped their price objective on shares of Accenture from $174.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, September 24th. Robert W. Baird upped their price objective on shares of Accenture from $174.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, September 28th. Finally, BMO Capital Markets upped their price objective on shares of Accenture to $180.00 and gave the stock a “market perform” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $176.37.

In related news, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were sold at an average price of $156.59, for a total transaction of $382,236.19. Following the completion of the transaction, the general counsel now directly owns 14,288 shares in the company, valued at approximately $2,237,357.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Pierre Nanterme sold 30,117 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,717 shares of company stock valued at $13,036,590. Corporate insiders own 0.21% of the company’s stock.

NYSE:ACN opened at $164.50 on Friday. The firm has a market cap of $105.89 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.14 and a beta of 1.01. Accenture Plc has a one year low of $142.70 and a one year high of $175.64.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. Equities analysts predict that Accenture Plc will post 7.21 earnings per share for the current year.

The business also recently announced a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be paid a dividend of $1.46 per share. This is a boost from Accenture’s previous semiannual dividend of $1.21. This represents a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, October 17th. Accenture’s dividend payout ratio is presently 43.32%.

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Accenture Company 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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