Curbstone Financial Management Corp lowered its stake in Accenture Plc (NYSE:ACN) by 3.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,950 shares of the information technology services provider’s stock after selling 150 shares during the quarter. Curbstone Financial Management Corp’s holdings in Accenture were worth $760,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Highland Private Wealth Management grew its stake in Accenture by 4.8% during the 2nd quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 66 shares in the last quarter. Brandywine Oak Private Wealth LLC acquired a new stake in Accenture during the 2nd quarter valued at approximately $207,000. Private Trust Co. NA grew its stake in Accenture by 1.6% during the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after purchasing an additional 57 shares in the last quarter. GSA Capital Partners LLP grew its stake in Accenture by 17.3% during the 2nd quarter. GSA Capital Partners LLP now owns 4,689 shares of the information technology services provider’s stock valued at $866,000 after purchasing an additional 690 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Accenture during the 2nd quarter valued at approximately $204,000. Institutional investors and hedge funds own 69.85% of the company’s stock.

ACN has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Accenture from $212.00 to $208.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Barclays initiated coverage on Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 target price on the stock. Cowen reaffirmed an “outperform” rating and set a $205.00 target price (up previously from $195.00) on shares of Accenture in a report on Monday, September 30th. Redburn Partners initiated coverage on Accenture in a report on Monday, September 23rd. They set a “buy” rating and a $227.00 target price on the stock. Finally, ValuEngine downgraded Accenture from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Accenture currently has a consensus rating of “Buy” and a consensus price target of $203.25.

In related news, CEO David Rowland sold 2,330 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $187.78, for a total value of $437,527.40. Following the sale, the chief executive officer now owns 24,318 shares of the company’s stock, valued at approximately $4,566,434.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel T. London sold 2,283 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total value of $429,272.49. Following the completion of the sale, the insider now directly owns 27,294 shares in the company, valued at approximately $5,132,090.82. The disclosure for this sale can be found here. In the last three months, insiders sold 6,613 shares of company stock worth $1,260,700. Company insiders own 0.18% of the company’s stock.

Shares of NYSE ACN opened at $187.08 on Friday. The company has a market cap of $125.01 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $202.80. The stock’s 50 day simple moving average is $191.80 and its 200 day simple moving average is $186.69.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.03. The business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.07 billion. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Equities research analysts forecast that Accenture Plc will post 7.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, October 16th. Accenture’s dividend payout ratio (DPR) is 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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