Douglas Lane & Associates LLC Sells 9,884 Shares of Accenture PLC (ACN)

Douglas Lane & Associates LLC trimmed its holdings in shares of Accenture PLC (NYSE:ACN) by 7.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 117,579 shares of the information technology services provider’s stock after selling 9,884 shares during the period. Douglas Lane & Associates LLC’s holdings in Accenture PLC were worth $15,881,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ACN. KBC Group NV increased its position in shares of Accenture PLC by 4.5% during the first quarter. KBC Group NV now owns 114,948 shares of the information technology services provider’s stock valued at $13,781,000 after acquiring an additional 4,977 shares in the last quarter. Bank of The Ozarks increased its position in shares of Accenture PLC by 0.7% during the first quarter. Bank of The Ozarks now owns 3,490 shares of the information technology services provider’s stock valued at $418,000 after acquiring an additional 25 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Accenture PLC by 1.5% during the first quarter. Prudential Financial Inc. now owns 2,119,246 shares of the information technology services provider’s stock valued at $254,055,000 after acquiring an additional 31,823 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Accenture PLC by 14.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 632,012 shares of the information technology services provider’s stock valued at $75,766,000 after acquiring an additional 80,090 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Accenture PLC by 5.1% during the first quarter. Stifel Financial Corp now owns 473,693 shares of the information technology services provider’s stock valued at $56,800,000 after acquiring an additional 23,046 shares in the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.

In related news, insider Richard P. Clark sold 3,155 shares of Accenture PLC stock in a transaction on Friday, October 27th. The shares were sold at an average price of $143.01, for a total transaction of $451,196.55. Following the transaction, the insider now owns 5,533 shares in the company, valued at approximately $791,274.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Pierre Nanterme sold 38,589 shares of Accenture PLC stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the transaction, the chief executive officer now owns 179,083 shares in the company, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,525 shares of company stock worth $11,763,497. 0.21% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on ACN. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Monday, August 28th. Berenberg Bank reissued a “buy” rating and set a $160.00 price target on shares of Accenture PLC in a research report on Thursday, September 21st. Cowen and Company set a $150.00 price target on shares of Accenture PLC and gave the company a “buy” rating in a research report on Monday, October 23rd. Stifel Nicolaus reissued a “buy” rating and set a $150.00 price target on shares of Accenture PLC in a research report on Friday. Finally, SunTrust Banks, Inc. set a $130.00 price target on shares of Accenture PLC and gave the company a “hold” rating in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Accenture PLC presently has a consensus rating of “Buy” and an average target price of $141.84.

Accenture PLC (NYSE ACN) opened at $144.04 on Monday. The firm has a market cap of $88,543.95, a price-to-earnings ratio of 24.37, a PEG ratio of 2.13 and a beta of 1.08. Accenture PLC has a one year low of $112.31 and a one year high of $144.69.

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, beating analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The company had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the previous year, the company earned $1.31 EPS. Accenture PLC’s revenue for the quarter was up 7.8% on a year-over-year basis. analysts expect that Accenture PLC will post 6.54 earnings per share for the current year.

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

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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.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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