Investors Sell Shares of Accenture (ACN) on Strength on Insider Selling

Traders sold shares of Accenture Plc (NYSE:ACN) on strength during trading hours on Friday following insider selling activity. $60.00 million flowed into the stock on the tick-up and $100.49 million flowed out of the stock on the tick-down, for a money net flow of $40.49 million out of the stock. Of all companies tracked, Accenture had the 0th highest net out-flow for the day. Accenture traded up $0.65 for the day and closed at $165.15Specifically, CEO Pierre Nanterme sold 30,117 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $173.45, for a total value of $5,223,793.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $160.86, for a total value of $321,720.00. Following the completion of the transaction, the insider now directly owns 117,807 shares of the company’s stock, valued at approximately $18,950,434.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,717 shares of company stock valued at $13,036,590. Corporate insiders own 0.21% of the company’s stock.

A number of research firms have recently weighed in on ACN. Wolfe Research began coverage on Accenture in a research note on Tuesday, July 17th. They set an “underperform” rating for the company. SunTrust Banks increased their price target on Accenture to $178.00 and gave the company a “hold” rating in a research note on Monday, October 1st. Bank of America increased their price target on Accenture from $174.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, September 24th. Robert W. Baird increased their price target on Accenture from $174.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, September 28th. Finally, BMO Capital Markets increased their price target on Accenture to $180.00 and gave the company a “market perform” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $176.37.

The stock has a market cap of $108.85 billion, a PE ratio of 24.50, a P/E/G ratio of 2.20 and a beta of 1.01.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The business had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Accenture Plc will post 7.21 earnings per share for the current fiscal year.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th will be given a dividend of $1.46 per share. The ex-dividend date is Wednesday, October 17th. This is an increase from Accenture’s previous semiannual dividend of $1.21. This represents a yield of 1.68%. Accenture’s dividend payout ratio is 43.32%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in Accenture by 2.0% during the second quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock valued at $7,063,106,000 after purchasing an additional 826,900 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Accenture by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 10,404,851 shares of the information technology services provider’s stock worth $1,702,132,000 after buying an additional 153,734 shares during the period. Northern Trust Corp raised its holdings in shares of Accenture by 2.6% in the second quarter. Northern Trust Corp now owns 9,808,588 shares of the information technology services provider’s stock worth $1,604,587,000 after buying an additional 246,828 shares during the period. WCM Investment Management CA raised its holdings in shares of Accenture by 3.7% in the third quarter. WCM Investment Management CA now owns 5,905,897 shares of the information technology services provider’s stock worth $1,005,184,000 after buying an additional 212,432 shares during the period. Finally, Polen Capital Management LLC raised its holdings in shares of Accenture by 1.5% in the second quarter. Polen Capital Management LLC now owns 5,124,412 shares of the information technology services provider’s stock worth $838,303,000 after buying an additional 75,613 shares during the period. Institutional investors and hedge funds own 70.27% of the company’s stock.

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Accenture Company Profile (NYSE:ACN)

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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