RMB Capital Management LLC Reduces Stake in Accenture plc (NYSE:ACN)

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RMB Capital Management LLC reduced its position in Accenture plc (NYSE:ACN) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,275 shares of the information technology services provider’s stock after selling 276 shares during the period. RMB Capital Management LLC’s holdings in Accenture were worth $16,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Dedication LLC increased its stake in Accenture by 48.9% in the 3rd quarter. Asset Dedication LLC now owns 140 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Personal Capital Advisors Corp boosted its holdings in shares of Accenture by 1.2% during the second quarter. Personal Capital Advisors Corp now owns 3,906 shares of the information technology services provider’s stock worth $839,000 after purchasing an additional 47 shares during the last quarter. Schulhoff & Co. Inc. boosted its holdings in shares of Accenture by 0.3% during the third quarter. Schulhoff & Co. Inc. now owns 13,561 shares of the information technology services provider’s stock worth $3,064,000 after purchasing an additional 47 shares during the last quarter. Baldwin Investment Management LLC boosted its holdings in shares of Accenture by 0.4% during the second quarter. Baldwin Investment Management LLC now owns 11,941 shares of the information technology services provider’s stock worth $2,564,000 after purchasing an additional 50 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV boosted its holdings in shares of Accenture by 0.5% during the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 10,477 shares of the information technology services provider’s stock worth $2,368,000 after purchasing an additional 50 shares during the last quarter. 62.67% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ACN traded up $0.24 during midday trading on Friday, reaching $243.44. 1,771,895 shares of the company’s stock were exchanged, compared to its average volume of 2,358,889. Accenture plc has a 52-week low of $137.15 and a 52-week high of $248.00. The stock has a market capitalization of $160.40 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 3.05 and a beta of 1.06. The business’s fifty day moving average price is $229.62 and its two-hundred day moving average price is $219.89.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 24th. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.03). Accenture had a return on equity of 30.17% and a net margin of 11.52%. The business had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.93 billion. During the same period in the previous year, the firm posted $1.74 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, analysts expect that Accenture plc will post 8.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. This is a positive change from Accenture’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, October 9th. Accenture’s payout ratio is presently 47.18%.

Several research firms have recently issued reports on ACN. Stifel Nicolaus raised their price objective on Accenture from $236.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. BMO Capital Markets decreased their price objective on Accenture from $255.00 to $250.00 and set a “market perform” rating on the stock in a report on Friday, September 25th. Piper Sandler raised their price objective on Accenture from $206.00 to $229.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Wedbush lifted their target price on Accenture from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Finally, Morgan Stanley lifted their target price on Accenture from $250.00 to $263.00 and gave the company an “overweight” rating in a report on Tuesday, October 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $234.43.

In related news, Director Venkata S. M. Renduchintala sold 1,283 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $223.01, for a total value of $286,121.83. Following the completion of the sale, the director now directly owns 3,358 shares of the company’s stock, valued at $748,867.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jean-Marc Ollagnier sold 450 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $222.29, for a total value of $100,030.50. Following the completion of the sale, the insider now directly owns 171,474 shares of the company’s stock, valued at $38,116,955.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,245,485 shares of company stock worth $137,614,464. Corporate insiders own 0.10% of the company’s stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services for clients to 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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