Cavalier Investments LLC Sells 147 Shares of Accenture plc (NYSE:ACN)

Cavalier Investments LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,427 shares of the information technology services provider’s stock after selling 147 shares during the quarter. Cavalier Investments LLC’s holdings in Accenture were worth $1,599,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Moseley Investment Management Inc. purchased a new stake in Accenture in the 2nd quarter valued at about $251,000. NorthCoast Asset Management LLC increased its stake in Accenture by 4.6% in the 2nd quarter. NorthCoast Asset Management LLC now owns 32,440 shares of the information technology services provider’s stock valued at $9,569,000 after buying an additional 1,417 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in shares of Accenture by 6.1% during the 2nd quarter. Mawer Investment Management Ltd. now owns 2,140,291 shares of the information technology services provider’s stock worth $630,936,000 after purchasing an additional 123,790 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Accenture during the 2nd quarter worth approximately $336,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Accenture by 2.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 411,690 shares of the information technology services provider’s stock worth $121,362,000 after purchasing an additional 9,390 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors.

In related news, insider Jean-Marc Ollagnier sold 5,233 shares of the firm’s stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $314.20, for a total value of $1,644,208.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,394 shares of the firm’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $293.44, for a total transaction of $995,935.36. Following the transaction, the general counsel now directly owns 24,349 shares in the company, valued at approximately $7,144,970.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,993 shares of company stock valued at $6,194,020. 0.07% of the stock is owned by company insiders.

Several research firms recently commented on ACN. BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $335.00 price objective for the company in a report on Wednesday, June 23rd. Societe Generale raised their price objective on shares of Accenture from $313.00 to $329.00 and gave the stock a “buy” rating in a report on Tuesday, June 15th. Citigroup raised their price objective on shares of Accenture from $310.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, June 25th. JPMorgan Chase & Co. raised their price target on shares of Accenture from $308.00 to $364.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Finally, Argus raised their price target on shares of Accenture from $300.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. Six equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $326.53.

Shares of ACN traded down $2.67 during mid-day trading on Monday, hitting $332.73. 23,776 shares of the company traded hands, compared to its average volume of 1,926,205. The stock has a 50-day moving average price of $326.76 and a two-hundred day moving average price of $298.46. Accenture plc has a 1 year low of $210.42 and a 1 year high of $345.52. The stock has a market cap of $211.17 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last announced its earnings results on Wednesday, June 23rd. The information technology services provider reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.16. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The business had revenue of $13.26 billion during the quarter, compared to analysts’ expectations of $12.81 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. Equities analysts expect that Accenture plc will post 8.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, July 15th were paid a $0.88 dividend. The ex-dividend date was Wednesday, July 14th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.06%. Accenture’s dividend payout ratio (DPR) is presently 47.18%.

Accenture 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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