Clarus Wealth Advisors Purchases 1,610 Shares of Accenture Plc (NYSE:ACN)

Clarus Wealth Advisors grew its position in Accenture Plc (NYSE:ACN) by 91.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,373 shares of the information technology services provider’s stock after acquiring an additional 1,610 shares during the period. Clarus Wealth Advisors’ holdings in Accenture were worth $649,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACN. Lenox Wealth Advisors LLC increased its holdings in Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Next Capital Management LLC acquired a new stake in Accenture in the second quarter valued at $34,000. Weaver Consulting Group acquired a new stake in Accenture in the first quarter valued at $39,000. Cerebellum GP LLC acquired a new stake in Accenture in the second quarter valued at $40,000. Finally, Lipe & Dalton acquired a new stake in Accenture in the second quarter valued at $42,000. Institutional investors and hedge funds own 69.84% of the company’s stock.

In related news, CEO David Rowland sold 2,255 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total value of $437,537.65. Following the transaction, the chief executive officer now owns 25,078 shares of the company’s stock, valued at approximately $4,865,884.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Johan Deblaere sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.02, for a total transaction of $582,060.00. Following the completion of the transaction, the chief operating officer now directly owns 68,204 shares in the company, valued at approximately $13,232,940.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,513 shares of company stock worth $3,375,582. 0.18% of the stock is owned by insiders.

A number of analysts recently weighed in on the company. Cantor Fitzgerald set a $215.00 price objective on Accenture and gave the company a “buy” rating in a report on Friday, September 27th. Citigroup increased their price target on Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. set a $216.00 price target on Accenture and gave the stock a “buy” rating in a report on Friday, September 27th. Argus increased their price target on Accenture to $220.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Wells Fargo & Co increased their price target on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Accenture currently has a consensus rating of “Buy” and an average price target of $203.25.

Shares of ACN traded up $1.17 during trading hours on Friday, hitting $185.00. The stock had a trading volume of 1,866,697 shares, compared to its average volume of 2,155,421. The firm has a 50 day simple moving average of $193.22 and a 200-day simple moving average of $186.03. The firm has a market capitalization of $122.43 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.04. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $202.80.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The company had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. On average, research analysts forecast that Accenture Plc will post 7.78 EPS for the current fiscal year.

The firm 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 payout ratio is 39.67%.

About Accenture

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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