American Century Companies Inc. Has $28.82 Million Position in Accenture Plc (NYSE:ACN)
American Century Companies Inc. boosted its holdings in Accenture Plc (NYSE:ACN) by 45.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 169,340 shares of the information technology services provider’s stock after purchasing an additional 52,890 shares during the quarter. American Century Companies Inc.’s holdings in Accenture were worth $28,822,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Commonwealth Bank of Australia grew its stake in Accenture by 4.7% in the second quarter. Commonwealth Bank of Australia now owns 52,871 shares of the information technology services provider’s stock valued at $8,644,000 after acquiring an additional 2,364 shares during the period. Zurich Insurance Group Ltd FI grew its stake in Accenture by 17.0% in the second quarter. Zurich Insurance Group Ltd FI now owns 134,458 shares of the information technology services provider’s stock valued at $21,996,000 after acquiring an additional 19,496 shares during the period. Janus Henderson Group PLC grew its stake in Accenture by 13.6% in the second quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock valued at $636,010,000 after acquiring an additional 466,745 shares during the period. Weatherstone Capital Management grew its stake in Accenture by 8.8% in the third quarter. Weatherstone Capital Management now owns 4,792 shares of the information technology services provider’s stock valued at $816,000 after acquiring an additional 388 shares during the period. Finally, Hexavest Inc. acquired a new stake in Accenture in the third quarter valued at approximately $60,851,000. Institutional investors and hedge funds own 70.71% of the company’s stock.
Several research analysts recently issued reports on ACN shares. Citigroup lifted their target price on Accenture from $163.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, September 18th. Moffett Nathanson started coverage on Accenture in a research report on Thursday, October 4th. They set a “buy” rating and a $200.00 target price on the stock. Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Deutsche Bank lifted their target price on Accenture from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, Robert W. Baird lifted their target price on Accenture from $174.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Accenture currently has an average rating of “Buy” and a consensus price target of $177.02.
Accenture (NYSE:ACN) last released 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 company had revenue of $10.15 billion for the quarter, compared to analyst estimates of $10.01 billion. During the same period in the previous year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that Accenture Plc will post 7.21 EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, October 18th were given 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 of this dividend was Wednesday, October 17th. Accenture’s payout ratio is presently 43.32%.
In related news, General Counsel Chad T. Jerdee sold 2,441 shares of the business’s stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $156.59, for a total transaction of $382,236.19. Following the completion of the transaction, the general counsel now directly owns 14,288 shares in the company, valued at $2,237,357.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,717 shares of company stock valued at $13,041,890. 0.21% of the stock is owned by company insiders.
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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