BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Accenture Plc (NYSE:ACN)

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Accenture Plc (NYSE:ACN) by 19.3% in the 1st quarter, Holdings Channel reports. The fund owned 117,226 shares of the information technology services provider’s stock after selling 28,013 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Accenture were worth $19,138,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Accenture during the fourth quarter worth about $1,334,072,000. UBS Asset Management Americas Inc. lifted its stake in shares of Accenture by 34.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 4,616,727 shares of the information technology services provider’s stock valued at $972,144,000 after buying an additional 1,181,132 shares in the last quarter. GQG Partners LLC boosted its holdings in Accenture by 8,478.9% in the 4th quarter. GQG Partners LLC now owns 1,009,731 shares of the information technology services provider’s stock worth $212,671,000 after buying an additional 997,961 shares during the period. Mawer Investment Management Ltd. grew its stake in Accenture by 3,501.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,020,555 shares of the information technology services provider’s stock valued at $214,898,000 after buying an additional 992,216 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in Accenture by 27.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,146,435 shares of the information technology services provider’s stock valued at $662,546,000 after acquiring an additional 676,463 shares during the period. Institutional investors and hedge funds own 74.31% of the company’s stock.

In related news, CFO Kathleen R. Mcclure sold 1,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total transaction of $208,125.00. Following the completion of the sale, the chief financial officer now directly owns 23,085 shares in the company, valued at $4,270,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $175.18, for a total transaction of $149,778.90. Following the sale, the general counsel now directly owns 24,689 shares of the company’s stock, valued at $4,325,019.02. The disclosure for this sale can be found here. Insiders have sold a total of 23,221 shares of company stock valued at $4,169,477 in the last ninety days. Insiders own 0.10% of the company’s stock.

A number of equities analysts have recently commented on ACN shares. Citigroup cut their price target on Accenture from $200.00 to $188.00 and set a “buy” rating for the company in a report on Friday, March 20th. Societe Generale raised Accenture to a “buy” rating and set a $205.00 target price for the company in a report on Friday, March 27th. Exane BNP Paribas initiated coverage on Accenture in a research report on Wednesday, April 15th. They set an “outperform” rating and a $215.00 price target on the stock. UBS Group cut their price objective on shares of Accenture from $205.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Finally, Morgan Stanley decreased their target price on shares of Accenture from $240.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $208.89.

ACN traded up $0.21 during mid-day trading on Friday, reaching $193.71. 1,317,507 shares of the company traded hands, compared to its average volume of 2,188,446. The company’s fifty day moving average price is $176.96 and its 200-day moving average price is $191.64. The stock has a market capitalization of $123.00 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.56 and a beta of 1.05. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. Accenture Plc has a 52-week low of $137.15 and a 52-week high of $216.39.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 19th. The information technology services provider reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.19. Accenture had a return on equity of 32.87% and a net margin of 11.13%. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.10 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. Accenture’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Accenture Plc will post 7.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 16th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. Accenture’s dividend payout ratio is currently 43.48%.

Accenture 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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