BT Wealth Management LLC Cuts Stock Holdings in Accenture Plc (NYSE:ACN)

BT Wealth Management LLC decreased its stake in shares of Accenture Plc (NYSE:ACN) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,382 shares of the information technology services provider’s stock after selling 86 shares during the period. Accenture comprises about 1.1% of BT Wealth Management LLC’s holdings, making the stock its 14th largest position. BT Wealth Management LLC’s holdings in Accenture were worth $1,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in ACN. Vanguard Group Inc. boosted its holdings in Accenture by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock valued at $10,231,417,000 after acquiring an additional 909,318 shares during the period. Morgan Stanley raised its holdings in Accenture by 5.3% during the second quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock valued at $1,983,748,000 after acquiring an additional 536,568 shares during the period. Bank of New York Mellon Corp raised its holdings in Accenture by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 9,411,450 shares of the information technology services provider’s stock valued at $1,738,951,000 after acquiring an additional 173,942 shares during the period. WCM Investment Management LLC raised its holdings in Accenture by 2.1% during the second quarter. WCM Investment Management LLC now owns 6,303,065 shares of the information technology services provider’s stock valued at $1,164,618,000 after acquiring an additional 128,827 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Accenture by 23.0% during the first quarter. Lazard Asset Management LLC now owns 6,270,138 shares of the information technology services provider’s stock valued at $1,103,668,000 after acquiring an additional 1,173,313 shares during the period. 69.84% of the stock is currently owned by institutional investors.

In other Accenture news, CEO David Rowland sold 2,330 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $187.78, for a total transaction of $437,527.40. Following the completion of the transaction, the chief executive officer now owns 24,318 shares in the company, valued at $4,566,434.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel T. London sold 2,283 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $188.03, for a total value of $429,272.49. Following the transaction, the insider now owns 27,294 shares of the company’s stock, valued at approximately $5,132,090.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,513 shares of company stock valued at $3,375,582. 0.18% of the stock is currently owned by company insiders.

A number of equities research analysts have commented on ACN shares. Citigroup raised their price target on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Bank of America lifted their target price on Accenture from $182.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Credit Suisse Group set a $180.00 target price on Accenture and gave the stock a “hold” rating in a report on Friday, June 28th. Redburn Partners started coverage on Accenture in a report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. Finally, Stifel Nicolaus set a $203.00 target price on Accenture and gave the stock a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average target price of $203.25.

ACN traded up $1.20 on Friday, hitting $185.03. The company had a trading volume of 119,232 shares, compared to its average volume of 2,155,421. The company has a market cap of $122.43 billion, a PE ratio of 25.14, a PEG ratio of 2.27 and a beta of 1.04. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $202.80. The business’s fifty day simple moving average is $193.22 and its 200 day simple moving average is $186.03.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share. On average, sell-side analysts anticipate that Accenture Plc will post 7.78 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a yield of 1.73%. Accenture’s dividend payout ratio is currently 39.67%.

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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