TD Asset Management Inc. Reduces Holdings in Accenture Plc (ACN)

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TD Asset Management Inc. decreased its holdings in Accenture Plc (NYSE:ACN) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 538,532 shares of the information technology services provider’s stock after selling 145,454 shares during the period. TD Asset Management Inc. owned about 0.08% of Accenture worth $75,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Accenture by 1.5% in the third quarter. Vanguard Group Inc. now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after acquiring an additional 770,904 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Accenture by 1.5% in the third quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after acquiring an additional 770,904 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Accenture by 115,500.5% in the third quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after acquiring an additional 10,213,711 shares in the last quarter. WCM Investment Management CA grew its stake in shares of Accenture by 3.7% in the third quarter. WCM Investment Management CA now owns 5,905,897 shares of the information technology services provider’s stock worth $1,005,184,000 after acquiring an additional 212,432 shares in the last quarter. Finally, Polen Capital Management LLC grew its stake in shares of Accenture by 0.7% in the third quarter. Polen Capital Management LLC now owns 5,160,737 shares of the information technology services provider’s stock worth $878,357,000 after acquiring an additional 36,325 shares in the last quarter. Institutional investors and hedge funds own 70.56% of the company’s stock.

NYSE ACN opened at $155.59 on Friday. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $175.64. The firm has a market capitalization of $103.35 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.09 and a beta of 1.10.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Accenture had a net margin of 9.99% and a return on equity of 40.31%. The company had revenue of $10.61 billion during the quarter, compared to the consensus estimate of $10.54 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. Accenture’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts forecast that Accenture Plc will post 7.2 EPS for the current fiscal year.

In other Accenture news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $163.51, for a total value of $327,020.00. Following the completion of the transaction, the insider now owns 126,104 shares in the company, valued at $20,619,265.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,165 shares of the company’s stock in a transaction on Monday, December 24th. The shares were sold at an average price of $135.16, for a total transaction of $833,261.40. Following the completion of the transaction, the insider now owns 168,751 shares of the company’s stock, valued at approximately $22,808,385.16. The disclosure for this sale can be found here. Insiders sold 61,033 shares of company stock valued at $8,481,437 in the last 90 days. 0.18% of the stock is currently owned by insiders.

A number of equities analysts recently commented on the stock. Citigroup upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $161.00 to $169.00 in a research note on Wednesday, January 16th. Bank of America upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $143.07 target price for the company in a research note on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. SunTrust Banks set a $157.00 target price on shares of Accenture and gave the stock a “hold” rating in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group set a $148.00 target price on shares of Accenture and gave the stock a “hold acn” rating in a research note on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $173.84.

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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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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