Evercore Wealth Management LLC raised its holdings in Accenture Plc (NYSE:ACN) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 401,887 shares of the information technology services provider’s stock after acquiring an additional 39,847 shares during the period. Accenture comprises about 2.2% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Evercore Wealth Management LLC owned about 0.06% of Accenture worth $68,402,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Utah Retirement Systems boosted its position in shares of Accenture by 0.5% during the third quarter. Utah Retirement Systems now owns 119,717 shares of the information technology services provider’s stock worth $20,375,000 after buying an additional 600 shares during the period. Highbridge Capital Management LLC boosted its position in Accenture by 717.0% during the third quarter. Highbridge Capital Management LLC now owns 9,872 shares of the information technology services provider’s stock valued at $1,680,000 after purchasing an additional 11,472 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Accenture by 24.7% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 340,079 shares of the information technology services provider’s stock valued at $57,881,000 after purchasing an additional 67,260 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Accenture during the third quarter valued at approximately $46,584,000. Finally, Karp Capital Management Corp acquired a new position in Accenture during the third quarter valued at approximately $1,605,000. 70.71% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on ACN shares. Zacks Investment Research raised Accenture from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Argus increased their price target on Accenture to $200.00 and gave the company a “positive” rating in a research report on Friday, September 28th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Accenture to $180.00 and gave the company a “market perform” rating in a research report on Friday, September 28th. Credit Suisse Group set a $170.00 price target on Accenture and gave the company a “hold” rating in a research report on Friday, September 28th. Finally, Robert W. Baird increased their price target on Accenture from $174.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Accenture has an average rating of “Buy” and a consensus price target of $177.02.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. The firm had revenue of $10.15 billion for the quarter, compared to analyst estimates of $10.01 billion. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. On average, equities research analysts forecast that Accenture Plc will post 7.21 EPS for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th were paid a $1.46 dividend. This is a positive change from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date was Wednesday, October 17th. This represents a yield of 1.68%. Accenture’s dividend payout ratio is currently 43.32%.
In other news, insider Jean-Marc Ollagnier sold 1,340 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $173.37, for a total transaction of $232,315.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Pierre Nanterme sold 30,117 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $173.45, for a total value of $5,223,793.65. The disclosure for this sale can be found here. Insiders sold 78,717 shares of company stock worth $13,041,890 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.
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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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