Insider Selling: Accenture PLC (ACN) CFO Sells 3,702 Shares of Stock
Accenture PLC (NYSE:ACN) CFO David Rowland sold 3,702 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $135.04, for a total transaction of $499,918.08. Following the transaction, the chief financial officer now owns 9,864 shares of the company’s stock, valued at approximately $1,332,034.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Accenture PLC (NYSE ACN) traded down 0.88% during mid-day trading on Tuesday, hitting $134.25. The stock had a trading volume of 2,535,494 shares. Accenture PLC has a 52-week low of $112.31 and a 52-week high of $138.70. The firm has a market cap of $82.90 billion, a PE ratio of 24.67 and a beta of 1.08. The stock’s 50-day moving average price is $132.95 and its 200-day moving average price is $125.87.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The business had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Accenture PLC will post $6.55 earnings per share for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th will be issued a dividend of $1.33 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture PLC’s payout ratio is 44.49%.
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Several institutional investors and hedge funds have recently modified their holdings of ACN. Vantage Financial Partners Ltd. Inc. bought a new position in Accenture PLC during the 2nd quarter valued at approximately $533,000. TCI Wealth Advisors Inc. raised its stake in Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 162 shares during the last quarter. Bellwether Investment Group LLC raised its stake in Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares during the last quarter. Manchester Capital Management LLC raised its stake in Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after buying an additional 60 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Accenture PLC by 2.0% during the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 19 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on ACN. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Accenture PLC in a research note on Tuesday. UBS AG downgraded shares of Accenture PLC from a “positive” rating to a “neutral” rating in a research note on Tuesday. SunTrust Banks, Inc. set a $130.00 target price on shares of Accenture PLC and gave the stock a “hold” rating in a research note on Sunday. Stifel Nicolaus restated a “buy” rating and issued a $150.00 target price on shares of Accenture PLC in a report on Sunday. Finally, BMO Capital Markets boosted their target price on shares of Accenture PLC from $130.00 to $140.00 and gave the company a “market perform” rating in a report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $140.38.
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.
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