Parsec Financial Management Inc. Has $274,000 Stake in Accenture PLC (ACN)
Parsec Financial Management Inc. maintained its position in shares of Accenture PLC (NYSE:ACN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,415 shares of the company’s stock at the end of the second quarter. Parsec Financial Management Inc.’s holdings in Accenture PLC were worth $274,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in shares of Accenture PLC during the second quarter worth approximately $116,516,000. NN Investment Partners Holdings N.V. bought a new stake in Accenture PLC during the first quarter worth about $56,722,000. Geode Capital Management LLC raised its stake in Accenture PLC by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,524,658 shares of the company’s stock worth $636,356,000 after buying an additional 394,256 shares during the period. UBS Asset Management Americas Inc. raised its stake in Accenture PLC by 10.2% in the first quarter. UBS Asset Management Americas Inc. now owns 3,570,115 shares of the company’s stock worth $411,991,000 after buying an additional 329,656 shares during the period. Finally, Wellington Management Group LLP raised its stake in Accenture PLC by 1.1% in the first quarter. Wellington Management Group LLP now owns 27,433,103 shares of the company’s stock worth $3,165,780,000 after buying an additional 292,081 shares during the period. 77.18% of the stock is owned by institutional investors and hedge funds.
Shares of Accenture PLC (NYSE:ACN) traded down 0.89% during trading on Tuesday, hitting $116.42. The company’s stock had a trading volume of 1,036,814 shares. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The firm’s 50 day moving average price is $114.75 and its 200-day moving average price is $115.07. The company has a market cap of $72.48 billion, a PE ratio of 18.05 and a beta of 1.24.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The firm earned $8.49 billion during the quarter. During the same period last year, the company posted $1.15 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts predict that Accenture PLC will post $5.93 earnings per share for the current year.
A number of research firms have recently issued reports on ACN. Cantor Fitzgerald restated a “buy” rating and issued a $126.00 price target on shares of Accenture PLC in a research report on Monday, June 20th. Barclays PLC upped their price target on Accenture PLC from $112.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, September 30th. Credit Suisse Group AG lowered Accenture PLC from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $120.94 to $120.00 in a research report on Friday, June 24th. Citigroup Inc. upped their price target on Accenture PLC from $115.50 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, September 28th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $125.00 price target (up from $118.00) on shares of Accenture PLC in a research report on Sunday, October 2nd. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $124.75.
In related news, insider Richard P. Clark sold 876 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $113.43, for a total transaction of $99,364.68. Following the completion of the sale, the insider now directly owns 16,396 shares of the company’s stock, valued at approximately $1,859,798.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 4,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.35, for a total transaction of $453,400.00. Following the sale, the general counsel now directly owns 28,755 shares of the company’s stock, valued at $3,259,379.25. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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