Pinnacle Associates Ltd. boosted its holdings in Accenture PLC (NYSE:ACN) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,818 shares of the information technology services provider’s stock after acquiring an additional 4,386 shares during the period. Pinnacle Associates Ltd.’s holdings in Accenture were worth $9,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jacobi Capital Management LLC lifted its holdings in Accenture by 104.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Accenture by 23.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 162 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Accenture during the 1st quarter worth about $122,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Accenture by 5.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 52 shares during the period. 72.51% of the stock is currently owned by hedge funds and other institutional investors.

Accenture PLC (NYSE ACN) opened at $146.57 on Friday. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $148.60. The company has a market cap of $97,680.38, a P/E ratio of 25.04, a P/E/G ratio of 2.19 and a beta of 1.09.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The company had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter last year, the company earned $1.31 earnings per share. Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. analysts forecast that Accenture PLC will post 6.54 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th were given a $1.33 dividend. This represents a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, October 18th. Accenture’s dividend payout ratio (DPR) is 48.90%.

In other Accenture news, COO Johan Deblaere sold 5,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $135.05, for a total value of $675,250.00. Following the completion of the sale, the chief operating officer now owns 120,817 shares of the company’s stock, valued at $16,316,335.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel T. London sold 637 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $136.03, for a total transaction of $86,651.11. The disclosure for this sale can be found here. Insiders sold 83,325 shares of company stock valued at $11,479,125 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on ACN. Cantor Fitzgerald reiterated a “buy” rating and set a $135.00 price objective on shares of Accenture in a report on Thursday, September 28th. KeyCorp reiterated a “buy” rating and set a $149.00 price objective on shares of Accenture in a report on Thursday, September 28th. BMO Capital Markets increased their price objective on shares of Accenture from $130.00 to $140.00 and gave the stock a “market perform” rating in a report on Friday, September 29th. Wells Fargo & Company increased their price objective on shares of Accenture from $147.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. Finally, Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $144.16.

WARNING: This article was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.thecerbatgem.com/2017/12/02/pinnacle-associates-ltd-raises-position-in-accenture-plc-acn.html.

About Accenture

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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Stock Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related stocks with our FREE daily email newsletter.