Jarislowsky Fraser Ltd Has $2.73 Million Stake in Accenture Plc (ACN)
Jarislowsky Fraser Ltd cut its stake in shares of Accenture Plc (NYSE:ACN) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,395 shares of the information technology services provider’s stock after selling 290 shares during the quarter. Jarislowsky Fraser Ltd’s holdings in Accenture were worth $2,734,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Focused Wealth Management Inc increased its holdings in Accenture by 100.0% in the 4th quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Accenture in the 4th quarter worth about $42,000. We Are One Seven LLC bought a new stake in Accenture in the 4th quarter worth about $56,000. First Interstate Bank increased its holdings in Accenture by 43.6% in the 4th quarter. First Interstate Bank now owns 395 shares of the information technology services provider’s stock worth $56,000 after buying an additional 120 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC bought a new stake in Accenture in the 4th quarter worth about $82,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.
In other news, CEO Pierre Nanterme sold 37,846 shares of Accenture stock in a transaction dated Monday, December 24th. The stock was sold at an average price of $135.16, for a total transaction of $5,115,265.36. Following the transaction, the chief executive officer now directly owns 368,212 shares of the company’s stock, valued at approximately $49,767,533.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jean-Marc Ollagnier sold 6,165 shares of Accenture stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $135.16, for a total value of $833,261.40. Following the transaction, the insider now directly owns 168,751 shares in the company, valued at $22,808,385.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,033 shares of company stock worth $8,154,417. Insiders own 0.18% of the company’s stock.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.12. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the previous year, the firm earned $1.79 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Accenture Plc will post 7.2 earnings per share for the current year.
ACN has been the subject of several research analyst reports. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price objective for the company in a report on Tuesday, January 8th. They noted that the move was a valuation call. Citigroup upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $161.00 to $169.00 in a report on Wednesday, January 16th. Morgan Stanley set a $178.00 price objective on Accenture and gave the stock a “buy” rating in a report on Friday, December 21st. Robert W. Baird cut their price target on Accenture from $176.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, December 21st. Finally, SunTrust Banks cut their price target on Accenture from $178.00 to $157.00 and set a “hold” rating for the company in a research note on Monday, December 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $173.84.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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