Meeder Asset Management Inc. Trims Holdings in Accenture Plc (ACN)

Meeder Asset Management Inc. lowered its position in Accenture Plc (NYSE:ACN) by 69.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,794 shares of the information technology services provider’s stock after selling 31,325 shares during the quarter. Meeder Asset Management Inc.’s holdings in Accenture were worth $2,348,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WP Advisors LLC bought a new stake in shares of Accenture in the 2nd quarter worth approximately $106,000. MUFG Securities EMEA plc bought a new stake in shares of Accenture in the 2nd quarter worth approximately $118,000. Fort L.P. bought a new stake in shares of Accenture in the 2nd quarter worth approximately $124,000. Valeo Financial Advisors LLC lifted its position in shares of Accenture by 48.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,010 shares of the information technology services provider’s stock worth $162,000 after acquiring an additional 329 shares during the period. Finally, Breiter Capital Management Inc. bought a new stake in shares of Accenture in the 3rd quarter worth approximately $205,000. Institutional investors own 70.27% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Accenture from $174.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, September 24th. Credit Suisse Group set a $170.00 target price on Accenture and gave the stock a “hold” rating in a report on Friday, September 28th. Argus increased their target price on Accenture to $200.00 and gave the stock a “positive” rating in a report on Friday, September 28th. They noted that the move was a valuation call. Berenberg Bank raised Accenture to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, September 27th. Finally, SunTrust Banks increased their target price on Accenture to $178.00 and gave the stock a “hold” rating in a report on Monday, October 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $176.37.

In related news, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $159.64, for a total transaction of $1,277,120.00. Following the completion of the sale, the insider now directly owns 124,328 shares of the company’s stock, valued at approximately $19,847,721.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $160.86, for a total value of $321,720.00. Following the sale, the insider now directly owns 117,807 shares of the company’s stock, valued at $18,950,434.02. The disclosure for this sale can be found here. Insiders have sold a total of 76,373 shares of company stock valued at $12,661,550 over the last ninety days. Insiders own 0.21% of the company’s stock.

ACN stock opened at $159.42 on Wednesday. Accenture Plc has a fifty-two week low of $142.70 and a fifty-two week high of $175.64. The firm has a market cap of $104.55 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $10.01 billion. During the same period last year, the firm posted $1.48 EPS. The business’s revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that Accenture Plc will post 7.21 earnings per share for the current fiscal year.

The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 18th will be issued a dividend of $1.46 per share. This represents a yield of 1.68%. This is a boost from Accenture’s previous semiannual dividend of $1.21. The ex-dividend date is Wednesday, October 17th. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

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Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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