Westpac Banking Corp Trims Position in Accenture PLC (ACN)
Westpac Banking Corp decreased its holdings in Accenture PLC (NYSE:ACN) by 83.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,581 shares of the information technology services provider’s stock after selling 1,720,247 shares during the quarter. Accenture PLC comprises 0.9% of Westpac Banking Corp’s investment portfolio, making the stock its 15th largest holding. Westpac Banking Corp owned 0.06% of Accenture PLC worth $42,370,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bellwether Investment Group LLC raised its position in Accenture PLC by 64.2% during the 1st quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Accenture PLC by 2.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after buying an additional 19 shares during the last quarter. Opera Trading Capital purchased a new position in Accenture PLC during the 1st quarter worth $119,000. Harbour Capital Advisors LLC purchased a new position in Accenture PLC during the 1st quarter worth $122,000. Finally, Farmers & Merchants Investments Inc. raised its position in Accenture PLC by 28.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,115 shares of the information technology services provider’s stock worth $138,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In other Accenture PLC news, insider Gianfranco Casati sold 5,000 shares of Accenture PLC stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the transaction, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the transaction, the insider now directly owns 119,942 shares in the company, valued at approximately $15,293,804.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,582 shares of company stock worth $2,634,573. Company insiders own 0.21% of the company’s stock.
A number of equities analysts have commented on the stock. Berenberg Bank restated a “buy” rating and set a $160.00 price objective on shares of Accenture PLC in a research report on Thursday, September 21st. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 21st. KeyCorp restated a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a research report on Friday, September 22nd. Morgan Stanley upped their price objective on shares of Accenture PLC from $132.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, September 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $148.00 price objective (up previously from $142.00) on shares of Accenture PLC in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Accenture PLC has an average rating of “Buy” and an average target price of $140.12.
Shares of Accenture PLC (NYSE ACN) opened at 135.07 on Friday. The firm’s 50 day moving average is $130.89 and its 200 day moving average is $124.97. The firm has a market capitalization of $83.41 billion, a PE ratio of 24.83 and a beta of 1.11. Accenture PLC has a 1-year low of $109.50 and a 1-year high of $138.15.
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 the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Accenture PLC had a return on equity of 42.65% and a net margin of 9.37%. 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 business posted $1.31 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Accenture PLC will post $6.54 EPS for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be paid a dividend of $1.33 per share. The ex-dividend date is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s dividend payout ratio (DPR) is presently 44.49%.
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Accenture PLC Company Profile
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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