Traders Sell Accenture (ACN) on Strength After Insider Selling

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Traders sold shares of Accenture Plc (NYSE:ACN) on strength during trading on Friday after an insider sold shares in the company. $60.00 million flowed into the stock on the tick-up and $100.49 million flowed out of the stock on the tick-down, for a money net flow of $40.49 million out of the stock. Of all equities tracked, Accenture had the 16th highest net out-flow for the day. Accenture traded up $0.65 for the day and closed at $165.15Specifically, Director Arun Sarin sold 1,170 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $171.40, for a total value of $200,538.00. Following the completion of the transaction, the director now owns 4,582 shares in the company, valued at approximately $785,354.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 owns 14,288 shares of the company’s stock, valued at approximately $2,237,357.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,717 shares of company stock valued at $13,036,590. Company insiders own 0.21% of the company’s stock.

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

The company has a market capitalization of $105.89 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, topping the Zacks’ 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%. Accenture’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. Equities analysts predict that Accenture Plc will post 7.21 earnings per share for the current year.

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

Institutional investors have recently made changes to their positions in the business. WP Advisors LLC purchased a new position in Accenture during the 2nd quarter worth $106,000. MUFG Securities EMEA plc purchased a new position in Accenture during the 2nd quarter worth $118,000. Fort L.P. purchased a new position in Accenture during the 2nd quarter worth $124,000. Valeo Financial Advisors LLC raised its position in Accenture by 48.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after buying an additional 329 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its position in Accenture by 2,784.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 1,125 shares of the information technology services provider’s stock worth $191,000 after buying an additional 1,086 shares during the last quarter. Institutional investors own 70.27% of the company’s stock.

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Accenture Company Profile (NYSE:ACN)

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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