Chevy Chase Trust Holdings Inc. Decreases Holdings in Accenture PLC (ACN)
Chevy Chase Trust Holdings Inc. reduced its stake in Accenture PLC (NYSE:ACN) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 743,989 shares of the information technology services provider’s stock after selling 41,406 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.11% of Accenture worth $100,490,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ACN. Eagle Ridge Investment Management acquired a new position in shares of Accenture in the third quarter valued at about $359,000. Canada Pension Plan Investment Board grew its stake in shares of Accenture by 18.9% in the second quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock valued at $58,532,000 after acquiring an additional 75,100 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Accenture by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock valued at $258,221,000 after acquiring an additional 97,760 shares in the last quarter. Koch Industries Inc. grew its stake in shares of Accenture by 18,227.9% in the second quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock valued at $327,000 after acquiring an additional 328,103 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Accenture by 0.3% in the second quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock valued at $42,067,000 after acquiring an additional 916 shares in the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.
Several equities analysts recently commented on ACN shares. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Monday, August 28th. Stifel Nicolaus upped their price target on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. KeyCorp restated a “buy” rating and issued a $149.00 price target on shares of Accenture in a research note on Sunday, October 29th. Pivotal Research started coverage on shares of Accenture in a research note on Wednesday, November 8th. They issued a “buy” rating and a $165.00 price target on the stock. Finally, Cowen set a $150.00 price target on shares of Accenture and gave the company a “buy” rating in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Accenture presently has a consensus rating of “Buy” and an average price target of $144.38.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping 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 business had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Accenture’s revenue was up 7.8% compared to the same quarter last year. equities analysts predict that Accenture PLC will post 6.54 earnings per share for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th were issued a $1.33 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture’s dividend payout ratio (DPR) is currently 48.90%.
In other news, insider Gianfranco Casati sold 20,380 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total value of $2,908,633.60. Following the completion of the transaction, the insider now owns 51,014 shares of the company’s stock, valued at $7,280,718.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard P. Clark sold 3,155 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $143.01, for a total transaction of $451,196.55. Following the completion of the transaction, the insider now directly owns 5,533 shares of the company’s stock, valued at approximately $791,274.33. 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 three months. Company insiders own 0.21% of the company’s stock.
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Accenture 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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