Intrepid Capital Management Inc. lowered its stake in shares of Accenture plc (NYSE:ACN) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,776 shares of the information technology services provider’s stock after selling 774 shares during the quarter. Accenture comprises approximately 1.8% of Intrepid Capital Management Inc.’s holdings, making the stock its 21st largest holding. Intrepid Capital Management Inc.’s holdings in Accenture were worth $3,471,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Stevens Capital Management LP increased its holdings in Accenture by 369.9% in the 2nd quarter. Stevens Capital Management LP now owns 5,996 shares of the information technology services provider’s stock valued at $1,768,000 after buying an additional 4,720 shares during the period. Kentucky Retirement Systems bought a new stake in Accenture in the 2nd quarter valued at $10,912,000. Bank of Nova Scotia increased its holdings in Accenture by 0.9% in the 2nd quarter. Bank of Nova Scotia now owns 17,078 shares of the information technology services provider’s stock valued at $5,034,000 after buying an additional 145 shares during the period. Bank of Montreal Can increased its holdings in Accenture by 24.6% in the 2nd quarter. Bank of Montreal Can now owns 2,120,212 shares of the information technology services provider’s stock valued at $630,085,000 after buying an additional 418,856 shares during the period. Finally, Davis R M Inc. grew its holdings in shares of Accenture by 1.0% in the 2nd quarter. Davis R M Inc. now owns 124,520 shares of the information technology services provider’s stock worth $36,707,000 after purchasing an additional 1,235 shares during the last quarter. 73.20% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Societe Generale upped their price target on shares of Accenture from $313.00 to $329.00 and gave the stock a “buy” rating in a research report on Tuesday, June 15th. Bank of America upped their price target on shares of Accenture from $324.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Moffett Nathanson raised shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $338.06 to $405.00 in a research note on Wednesday, September 22nd. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating on shares of Accenture in a research note on Sunday, September 19th. Finally, BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $335.00 target price on the stock in a report on Wednesday, June 23rd. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $352.42.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 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 company had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.42 billion. During the same quarter in the previous year, the firm earned $1.70 EPS. Accenture’s revenue was up 23.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Accenture plc will post 8.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Thursday, October 14th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, October 13th. This represents a $3.88 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Accenture’s previous quarterly dividend of $0.88. Accenture’s payout ratio is currently 47.18%.
In other Accenture news, insider Jean-Marc Ollagnier sold 5,233 shares of the company’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $314.20, for a total value of $1,644,208.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ellyn Shook sold 2,600 shares of the company’s 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 in the company, valued at approximately $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 90 days. 0.07% of the stock is currently owned by corporate insiders.
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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