Quest Investment Management LLC Lowers Holdings in Accenture plc (NYSE:ACN)

Quest Investment Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 12.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,416 shares of the information technology services provider’s stock after selling 7,554 shares during the period. Accenture accounts for 1.4% of Quest Investment Management LLC’s holdings, making the stock its 17th biggest holding. Quest Investment Management LLC’s holdings in Accenture were worth $15,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC purchased a new position in Accenture in the 2nd quarter worth approximately $25,000. Solstein Capital LLC purchased a new stake in shares of Accenture during the 1st quarter worth approximately $29,000. Hanson & Doremus Investment Management raised its holdings in shares of Accenture by 750.0% during the 2nd quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 120 shares in the last quarter. Trustcore Financial Services LLC raised its holdings in shares of Accenture by 456.0% during the 2nd quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. Finally, Summit Wealth Group LLC purchased a new stake in shares of Accenture during the 1st quarter worth approximately $43,000. 73.20% of the stock is currently owned by institutional investors.

Shares of Accenture stock opened at $337.00 on Monday. Accenture plc has a 52 week low of $210.42 and a 52 week high of $345.52. The stock’s fifty day moving average is $329.06 and its two-hundred day moving average is $301.44. The company has a market capitalization of $213.88 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.01. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The business had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.42 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The business’s revenue was up 23.8% compared to the same quarter last year. On average, equities analysts anticipate that Accenture plc will post 8.79 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 14th will be given a dividend of $0.97 per share. This is an increase from Accenture’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, October 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.15%. Accenture’s dividend payout ratio is presently 47.18%.

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $314.20, for a total value of $1,413,900.00. Following the completion of the sale, the chief financial officer now directly owns 16,131 shares in the company, valued at $5,068,360.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ellyn Shook sold 2,600 shares of the stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $317.47, for a total value of $825,422.00. Following the completion of the sale, the insider now owns 19,420 shares of the company’s stock, valued at $6,165,267.40. The disclosure for this sale can be found here. Insiders have sold a total of 15,333 shares of company stock worth $4,826,161 in the last three months. Corporate insiders own 0.07% of the company’s stock.

ACN has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Accenture from $308.00 to $364.00 and gave the stock an “overweight” rating in a report on Tuesday, August 17th. Citigroup upped their price objective on Accenture from $340.00 to $390.00 and gave the stock a “buy” rating in a report on Friday. upped their price objective on Accenture from $310.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, June 25th. Susquehanna Bancshares increased their price target on Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a report on Friday, June 25th. Finally, Argus increased their price target on Accenture from $330.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Accenture currently has a consensus rating of “Buy” and an average target price of $352.42.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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