Accenture Plc (NYSE:ACN) Shares Sold by Hayek Kallen Investment Management

Hayek Kallen Investment Management lowered its position in Accenture Plc (NYSE:ACN) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,471 shares of the information technology services provider’s stock after selling 367 shares during the quarter. Accenture accounts for approximately 2.1% of Hayek Kallen Investment Management’s holdings, making the stock its 20th biggest holding. Hayek Kallen Investment Management’s holdings in Accenture were worth $3,361,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Farmers National Bank grew its position in shares of Accenture by 6.2% during the 2nd quarter. Farmers National Bank now owns 924 shares of the information technology services provider’s stock valued at $171,000 after buying an additional 54 shares during the last quarter. Private Trust Co. NA grew its position in shares of Accenture by 1.6% during the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after buying an additional 57 shares during the last quarter. Modera Wealth Management LLC grew its position in shares of Accenture by 1.5% during the 2nd quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after buying an additional 57 shares during the last quarter. Pegasus Asset Management Inc. grew its position in shares of Accenture by 0.4% during the 3rd quarter. Pegasus Asset Management Inc. now owns 16,876 shares of the information technology services provider’s stock valued at $3,246,000 after buying an additional 60 shares during the last quarter. Finally, Enterprise Bank & Trust Co grew its position in Accenture by 0.7% in the 2nd quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock worth $1,807,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.

In related news, insider Daniel T. London sold 5,421 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $185.69, for a total transaction of $1,006,625.49. Following the completion of the sale, the insider now directly owns 31,698 shares of the company’s stock, valued at $5,886,001.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 12,961 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $185.69, for a total transaction of $2,406,728.09. Following the sale, the chief executive officer now directly owns 22,702 shares of the company’s stock, valued at $4,215,534.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,014 shares of company stock valued at $6,859,750. Company insiders own 0.18% of the company’s stock.

ACN has been the subject of several recent analyst reports. KeyCorp set a $208.00 target price on shares of Accenture and gave the stock a “buy” rating in a research report on Thursday, September 26th. Argus upped their target price on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Redburn Partners initiated coverage on shares of Accenture in a research report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price for the company. Zacks Investment Research cut shares of Accenture from a “hold” rating to a “sell” rating and set a $214.00 target price for the company. in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. set a $216.00 target price on shares of Accenture and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $203.25.

Shares of NYSE:ACN traded up $0.61 during trading on Friday, reaching $189.70. The company had a trading volume of 1,255,713 shares, compared to its average volume of 1,885,322. The firm’s fifty day moving average is $187.48 and its 200 day moving average is $187.54. The firm has a market capitalization of $125.58 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03. Accenture Plc has a twelve month low of $132.63 and a twelve month high of $202.80.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. Accenture had a net margin of 11.06% and a return on equity of 34.30%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. On average, research analysts forecast that Accenture Plc will post 7.78 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 16th. Accenture’s dividend payout ratio is currently 43.48%.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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