Cue Financial Group Inc. Lowers Holdings in Accenture PLC (ACN)
Cue Financial Group Inc. lessened its stake in Accenture PLC (NYSE:ACN) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,022 shares of the information technology services provider’s stock after selling 405 shares during the quarter. Accenture PLC comprises approximately 1.3% of Cue Financial Group Inc.’s investment portfolio, making the stock its 18th biggest holding. Cue Financial Group Inc.’s holdings in Accenture PLC were worth $1,894,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Independent Franchise Partners LLP increased its position in Accenture PLC by 3.7% in the 3rd quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after acquiring an additional 222,828 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Accenture PLC in the 3rd quarter valued at about $1,270,000. Bartlett & Co. LLC increased its position in Accenture PLC by 2.0% in the 3rd quarter. Bartlett & Co. LLC now owns 182,068 shares of the information technology services provider’s stock valued at $24,592,000 after acquiring an additional 3,525 shares in the last quarter. Whittier Trust Co. increased its position in Accenture PLC by 5.2% in the 3rd quarter. Whittier Trust Co. now owns 23,023 shares of the information technology services provider’s stock valued at $3,110,000 after acquiring an additional 1,144 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Accenture PLC by 37.3% in the 3rd quarter. APG Asset Management N.V. now owns 1,206,949 shares of the information technology services provider’s stock valued at $163,023,000 after acquiring an additional 327,900 shares in the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.
Accenture PLC (NYSE:ACN) opened at $143.50 on Wednesday. Accenture PLC has a one year low of $112.31 and a one year high of $144.69. The firm has a market cap of $88,476.34, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, beating 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 firm had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. equities analysts predict that Accenture PLC will post 6.54 earnings per share for the current fiscal year.
The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be paid a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s payout ratio is currently 48.90%.
In other news, insider Daniel T. London sold 637 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $136.03, for a total value of $86,651.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $129.26, for a total transaction of $284,372.00. Following the completion of the sale, the insider now directly owns 119,013 shares in the company, valued at approximately $15,383,620.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,525 shares of company stock worth $11,763,497. Insiders own 0.21% of the company’s stock.
ACN has been the subject of several analyst reports. Cowen and Company set a $150.00 price target on shares of Accenture PLC and gave the stock a “buy” rating in a research report on Monday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 price target on shares of Accenture PLC in a research report on Sunday, October 1st. Barclays PLC lifted their price target on shares of Accenture PLC from $124.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Wednesday, September 6th. Finally, Morgan Stanley lifted their price target 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $142.89.
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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