NTV Asset Management LLC Purchases 138 Shares of Accenture plc (NYSE:ACN)

NTV Asset Management LLC lifted its position in Accenture plc (NYSE:ACN) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,681 shares of the information technology services provider’s stock after acquiring an additional 138 shares during the quarter. NTV Asset Management LLC’s holdings in Accenture were worth $538,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in Accenture by 11.4% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,948 shares of the information technology services provider’s stock worth $2,223,000 after buying an additional 710 shares during the period. Parkwood LLC purchased a new position in Accenture in the 2nd quarter worth about $4,446,000. Spire Wealth Management increased its stake in Accenture by 0.8% in the 3rd quarter. Spire Wealth Management now owns 44,504 shares of the information technology services provider’s stock worth $14,247,000 after buying an additional 349 shares during the period. Pacer Advisors Inc. increased its stake in Accenture by 9.8% in the 3rd quarter. Pacer Advisors Inc. now owns 40,182 shares of the information technology services provider’s stock worth $12,855,000 after buying an additional 3,589 shares during the period. Finally, NewEdge Wealth LLC increased its stake in Accenture by 4.3% in the 2nd quarter. NewEdge Wealth LLC now owns 38,244 shares of the information technology services provider’s stock worth $11,274,000 after buying an additional 1,592 shares during the period. Hedge funds and other institutional investors own 73.08% of the company’s stock.

ACN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Accenture from $395.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 17th. Wolfe Research raised their target price on shares of Accenture from $380.00 to $420.00 and gave the company a “peer perform” rating in a research report on Friday, December 17th. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $405.00 target price on the stock in a research report on Tuesday, December 21st. Morgan Stanley raised their target price on shares of Accenture from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 17th. Finally, UBS Group raised their target price on shares of Accenture from $340.00 to $397.00 and gave the company a “neutral” rating in a research report on Friday, December 17th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture currently has an average rating of “Buy” and an average target price of $387.76.

NYSE ACN traded down $3.99 on Friday, hitting $357.38. 29,671 shares of the company’s stock traded hands, compared to its average volume of 2,501,309. Accenture plc has a 1-year low of $241.73 and a 1-year high of $417.37. The firm’s 50-day moving average price is $379.13 and its two-hundred day moving average price is $346.44. The firm has a market capitalization of $225.92 billion, a PE ratio of 37.60, a P/E/G ratio of 3.58 and a beta of 1.16.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 16th. The information technology services provider reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. Accenture had a net margin of 11.54% and a return on equity of 30.42%. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $14.22 billion. During the same period in the previous year, the business posted $2.17 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts forecast that Accenture plc will post 10.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Thursday, January 13th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, January 12th. Accenture’s payout ratio is 40.37%.

Accenture announced that its Board of Directors has approved a stock repurchase program on Thursday, September 23rd that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In other news, insider James O. Etheredge sold 1,966 shares of Accenture stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $356.11, for a total transaction of $700,112.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,797 shares of the business’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $356.47, for a total transaction of $640,576.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,496 shares of company stock valued at $5,865,002. Insiders own 0.07% of the company’s stock.

About Accenture

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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