Investors Sell Accenture PLC (ACN) on Strength on Insider Selling

Traders sold shares of Accenture PLC (NYSE:ACN) on strength during trading hours on Thursday following insider selling activity. $36.46 million flowed into the stock on the tick-up and $72.59 million flowed out of the stock on the tick-down, for a money net flow of $36.13 million out of the stock. Of all companies tracked, Accenture PLC had the 0th highest net out-flow for the day. Accenture PLC traded up $0.47 for the day and closed at $143.43Specifically, insider Daniel T. London sold 637 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.26, for a total value of $284,372.00. Following the completion of the sale, the insider now directly owns 119,013 shares of the company’s stock, valued at approximately $15,383,620.38. The disclosure for this sale can be found here. Insiders have sold 85,525 shares of company stock valued at $11,763,497 over the last 90 days. 0.21% of the stock is currently owned by insiders.

ACN has been the subject of several analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub downgraded Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Monday, August 28th. Stifel Nicolaus upped their target price on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Finally, Bank of America Corporation initiated coverage on Accenture PLC in a research report on Tuesday, September 12th. They issued a “buy” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $141.84.

Accenture PLC (NYSE:ACN) last released its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. The business had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share.

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be issued a dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date is Wednesday, October 18th. Accenture PLC’s payout ratio is 48.90%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Jacobi Capital Management LLC boosted its holdings in Accenture PLC by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares in the last quarter. Bellwether Investment Group LLC boosted its holdings in Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after purchasing an additional 359 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Accenture PLC during the first quarter valued at approximately $122,000. 77.82% of the stock is currently owned by institutional investors.

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About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

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