Landsberg Bennett & Dubbaneh LLC Cuts Stock Holdings in Accenture Plc (NYSE:ACN)

Landsberg Bennett & Dubbaneh LLC lowered its stake in shares of Accenture Plc (NYSE:ACN) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,041 shares of the information technology services provider’s stock after selling 530 shares during the quarter. Accenture accounts for about 1.3% of Landsberg Bennett & Dubbaneh LLC’s portfolio, making the stock its 13th largest position. Landsberg Bennett & Dubbaneh LLC’s holdings in Accenture were worth $4,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several 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 buying an additional 101 shares during the last quarter. Next Capital Management LLC purchased a new position in Accenture in the second quarter valued at $34,000. Weaver Consulting Group purchased a new position in Accenture in the first quarter valued at $39,000. Cerebellum GP LLC purchased a new position in Accenture in the second quarter valued at $40,000. Finally, Lipe & Dalton purchased a new position in Accenture in the second quarter valued at $42,000. 69.84% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Paula A. Price sold 645 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $194.24, for a total transaction of $125,284.80. Following the completion of the sale, the director now owns 6,716 shares in the company, valued at $1,304,515.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $194.00, for a total transaction of $970,000.00. Following the sale, the insider now owns 36,713 shares of the company’s stock, valued at approximately $7,122,322. The disclosure for this sale can be found here. Insiders have sold 17,513 shares of company stock valued at $3,375,582 in the last quarter. Insiders own 0.18% of the company’s stock.

ACN has been the topic of several recent analyst reports. Barclays initiated coverage on Accenture in a report on Friday, September 20th. They issued an “overweight” rating and a $228.00 target price on the stock. KeyCorp set a $208.00 target price on Accenture and gave the company a “buy” rating in a report on Thursday, September 26th. Argus increased their target price on Accenture to $220.00 and gave the company a “buy” rating in a report on Monday, July 15th. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating and set a $214.00 target price on the stock. in a report on Monday, September 9th. Finally, Redburn Partners initiated coverage on Accenture in a report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $203.25.

NYSE ACN traded up $1.14 during trading hours on Friday, hitting $184.97. The company had a trading volume of 2,381,183 shares, compared to its average volume of 2,155,421. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $202.80. The company has a market cap of $122.43 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.04. The business has a 50 day moving average of $193.22 and a 200-day moving average of $186.03.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a dividend yield of 1.73%. Accenture’s dividend payout ratio (DPR) is 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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