HighPoint Advisor Group LLC Invests $477,000 in Accenture PLC (ACN)
HighPoint Advisor Group LLC purchased a new position in Accenture PLC (NYSE:ACN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,035 shares of the company’s stock, valued at approximately $477,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. The Manufacturers Life Insurance Company acquired a new position in shares of Accenture PLC during the third quarter worth about $287,741,000. WCM Investment Management CA acquired a new position in shares of Accenture PLC during the second quarter worth about $223,849,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Accenture PLC by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,972,840 shares of the company’s stock worth $1,922,853,000 after buying an additional 784,025 shares during the period. Schroder Investment Management Group raised its position in shares of Accenture PLC by 88.9% in the third quarter. Schroder Investment Management Group now owns 1,201,338 shares of the company’s stock worth $146,768,000 after buying an additional 565,379 shares during the period. Finally, Columbus Circle Investors acquired a new position in shares of Accenture PLC during the second quarter worth about $58,353,000. Institutional investors own 77.38% of the company’s stock.
Accenture PLC (NYSE:ACN) opened at 120.72 on Friday. Accenture PLC has a 52-week low of $97.92 and a 52-week high of $125.72. The firm has a market capitalization of $75.16 billion, a price-to-earnings ratio of 17.86 and a beta of 1.17. The company’s 50-day moving average price is $116.16 and its 200 day moving average price is $116.54.
Accenture PLC (NYSE:ACN) last released its quarterly earnings results on Wednesday, December 21st. The company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.09. Accenture PLC had a return on equity of 46.99% and a net margin of 12.34%. The firm earned $8.50 billion during the quarter, compared to analysts’ expectations of $8.59 billion. During the same period last year, the firm posted $1.28 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts predict that Accenture PLC will post $5.87 earnings per share for the current fiscal year.
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ACN has been the subject of a number of analyst reports. Vetr lowered Accenture PLC from a “strong-buy” rating to a “buy” rating and set a $130.00 price target for the company. in a research report on Tuesday, November 1st. Zacks Investment Research lowered Accenture PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, December 13th. William Blair reiterated an “outperform” rating on shares of Accenture PLC in a research report on Monday, January 9th. Barclays PLC reduced their price target on Accenture PLC from $128.00 to $124.00 and set an “equal weight” rating for the company in a research report on Thursday, December 22nd. Finally, Cantor Fitzgerald set a $139.00 price target on Accenture PLC and gave the stock a “buy” rating in a research report on Tuesday, December 13th. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $126.31.
In related news, insider Daniel T. London sold 5,549 shares of the firm’s stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $117.65, for a total transaction of $652,839.85. Following the completion of the sale, the insider now directly owns 21,034 shares of the company’s stock, valued at approximately $2,474,650.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Lumb sold 4,400 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $120.00, for a total value of $528,000.00. Following the sale, the insider now directly owns 124,475 shares of the company’s stock, valued at $14,937,000. The disclosure for this sale can be found here. Insiders have sold a total of 19,386 shares of company stock valued at $2,283,155 over the last ninety days. Insiders own 0.21% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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