IFG Advisory LLC Has $1.04 Million Holdings in Accenture Plc (ACN)

IFG Advisory LLC cut its position in shares of Accenture Plc (NYSE:ACN) by 15.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,131 shares of the information technology services provider’s stock after selling 1,085 shares during the quarter. IFG Advisory LLC’s holdings in Accenture were worth $1,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Brookstone Capital Management lifted its stake in Accenture by 51.3% during the third quarter. Brookstone Capital Management now owns 4,938 shares of the information technology services provider’s stock valued at $840,000 after buying an additional 1,674 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Accenture by 39.6% during the third quarter. Janney Montgomery Scott LLC now owns 57,671 shares of the information technology services provider’s stock valued at $9,816,000 after buying an additional 16,374 shares in the last quarter. Nichols & Pratt Advisers LLP MA lifted its stake in Accenture by 252.5% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 31,168 shares of the information technology services provider’s stock valued at $5,310,000 after buying an additional 22,325 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Accenture by 0.3% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 569,648 shares of the information technology services provider’s stock valued at $96,954,000 after buying an additional 1,752 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. lifted its stake in Accenture by 0.5% during the third quarter. Mogy Joel R Investment Counsel Inc. now owns 91,491 shares of the information technology services provider’s stock valued at $15,572,000 after buying an additional 493 shares in the last quarter. 70.27% of the stock is owned by institutional investors.

In related news, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $160.86, for a total value of $321,720.00. Following the completion of the transaction, the insider now owns 117,807 shares in the company, valued at approximately $18,950,434.02. The disclosure for this sale can be found here. Insiders sold 78,717 shares of company stock worth $13,036,590 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

A number of research firms have commented on ACN. Deutsche Bank upped their price objective on shares of Accenture from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, September 20th. SunTrust Banks upped their price objective on shares of Accenture to $178.00 and gave the company a “hold” rating in a research note on Monday, October 1st. Zacks Investment Research raised shares of Accenture from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Moffett Nathanson began coverage on shares of Accenture in a research note on Thursday, October 4th. They set a “buy” rating and a $200.00 price objective for the company. Finally, UBS Group set a $180.00 price target on shares of Accenture and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $176.37.

NYSE ACN opened at $164.50 on Friday. The company has a market capitalization of $105.89 billion, a PE ratio of 24.41, a P/E/G ratio of 2.14 and a beta of 1.01. Accenture Plc has a 52-week low of $142.70 and a 52-week high of $175.64.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that Accenture Plc will post 7.21 EPS for the current fiscal year.

The company also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be issued a $1.46 dividend. 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 currently 43.32%.

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Accenture Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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