M&R Capital Management Inc. Decreases Stock Position in Accenture Plc (NYSE:ACN)

M&R Capital Management Inc. lessened its stake in shares of Accenture Plc (NYSE:ACN) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,723 shares of the information technology services provider’s stock after selling 615 shares during the period. Accenture makes up approximately 2.7% of M&R Capital Management Inc.’s holdings, making the stock its 11th largest holding. M&R Capital Management Inc.’s holdings in Accenture were worth $10,774,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Accenture by 1.7% during the 2nd quarter. BlackRock Inc. now owns 45,961,228 shares of the information technology services provider’s stock valued at $9,868,793,000 after buying an additional 784,298 shares during the period. State Street Corp grew its position in shares of Accenture by 0.9% during the 1st quarter. State Street Corp now owns 26,989,659 shares of the information technology services provider’s stock worth $4,406,390,000 after buying an additional 235,852 shares in the last quarter. Capital Research Global Investors grew its position in shares of Accenture by 2.4% during the 1st quarter. Capital Research Global Investors now owns 15,026,818 shares of the information technology services provider’s stock worth $2,453,285,000 after buying an additional 355,755 shares in the last quarter. FMR LLC grew its position in shares of Accenture by 23.7% during the 2nd quarter. FMR LLC now owns 9,599,021 shares of the information technology services provider’s stock worth $2,061,101,000 after buying an additional 1,840,911 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Accenture by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,608,643 shares of the information technology services provider’s stock worth $1,848,446,000 after buying an additional 289,003 shares in the last quarter. Institutional investors own 73.44% of the company’s stock.

NYSE:ACN traded down $0.81 on Thursday, reaching $225.18. The company’s stock had a trading volume of 1,910,935 shares, compared to its average volume of 2,472,682. Accenture Plc has a 12-month low of $137.15 and a 12-month high of $247.82. The firm has a market cap of $143.39 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.67 and a beta of 1.03. The stock has a 50 day moving average price of $233.92 and a 200 day moving average price of $203.79.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. This is an increase from Accenture’s previous quarterly dividend of $0.80. Accenture’s payout ratio is currently 42.90%.

A number of equities analysts have recently issued reports on ACN shares. JPMorgan Chase & Co. dropped their price target on Accenture from $256.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, September 25th. Morgan Stanley raised their price objective on Accenture from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 16th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company downgraded Accenture from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Thursday, June 18th. They noted that the move was a valuation call. Finally, Wolfe Research raised their price objective on Accenture from $165.00 to $220.00 and gave the company a “peer perform” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $231.08.

In related news, General Counsel Joel Unruch sold 1,124 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $222.55, for a total value of $250,146.20. Following the sale, the general counsel now owns 24,201 shares in the company, valued at approximately $5,385,932.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Venkata S. M. Renduchintala sold 1,283 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were 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 owns 3,358 shares in the company, valued at approximately $748,867.58. The disclosure for this sale can be found here. Insiders sold 14,954 shares of company stock worth $3,327,555 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Accenture Company 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.

Further Reading: Compound Interest

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.