Miracle Mile Advisors LLC Has $9.45 Million Holdings in Accenture plc (NYSE:ACN)

Miracle Mile Advisors LLC boosted its position in shares of Accenture plc (NYSE:ACNGet Rating) by 847.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,019 shares of the information technology services provider’s stock after buying an additional 30,429 shares during the period. Miracle Mile Advisors LLC’s holdings in Accenture were worth $9,445,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its position in shares of Accenture by 44.1% during the 4th quarter. Clearstead Advisors LLC now owns 5,420 shares of the information technology services provider’s stock worth $2,247,000 after buying an additional 1,658 shares during the last quarter. HBK Investments L P acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $1,331,000. Pitcairn Co. grew its holdings in shares of Accenture by 28.8% during the 4th quarter. Pitcairn Co. now owns 3,248 shares of the information technology services provider’s stock valued at $1,346,000 after purchasing an additional 727 shares during the last quarter. Rodgers Brothers Inc. lifted its stake in Accenture by 11.0% in the 4th quarter. Rodgers Brothers Inc. now owns 1,713 shares of the information technology services provider’s stock valued at $710,000 after purchasing an additional 170 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Accenture by 6.1% in the fourth quarter. Nuveen Asset Management LLC now owns 5,291,047 shares of the information technology services provider’s stock valued at $2,193,403,000 after buying an additional 302,484 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Exane BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Royal Bank of Canada cut their price target on shares of Accenture from $357.00 to $335.00 in a report on Friday. Susquehanna reduced their price target on Accenture from $460.00 to $360.00 in a research report on Friday. Cowen decreased their target price on shares of Accenture from $325.00 to $295.00 in a research report on Friday. Finally, Cowen decreased their price objective on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $345.80.

Insider Activity at Accenture

In other Accenture news, insider Ellyn Shook sold 750 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ellyn Shook sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now directly owns 21,400 shares in the company, valued at $6,420,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 555 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the completion of the sale, the general counsel now owns 25,601 shares in the company, valued at $7,680,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,389 shares of company stock worth $3,132,777. 0.07% of the stock is owned by corporate insiders.

Accenture Stock Down 1.2 %

Shares of NYSE ACN opened at $259.28 on Friday. The company has a market capitalization of $164.01 billion, a PE ratio of 25.44, a PEG ratio of 2.24 and a beta of 1.22. The stock’s 50 day moving average price is $294.97 and its 200-day moving average price is $299.75. Accenture plc has a twelve month low of $261.77 and a twelve month high of $417.37.

Accenture (NYSE:ACNGet Rating) last announced its earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.03. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. As a group, research analysts expect that Accenture plc will post 10.69 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, October 13th will be paid a $1.12 dividend. This is an increase from Accenture’s previous quarterly dividend of $0.97. This represents a $4.48 annualized dividend and a dividend yield of 1.73%. Accenture’s dividend payout ratio (DPR) is presently 37.63%.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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