Quantitative Investment Management LLC acquired a new stake in Accenture PLC (NYSE:ACN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 107,200 shares of the information technology services provider’s stock, valued at approximately $12,851,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Coconut Grove Bank raised its position in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 11 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 113 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 19 shares during the last quarter. Finally, Opera Trading Capital acquired a new position in shares of Accenture PLC during the first quarter valued at $119,000. Institutional investors own 78.57% of the company’s stock.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

Shares of Accenture PLC (NYSE:ACN) opened at 122.74 on Monday. The stock has a 50 day moving average price of $123.68 and a 200 day moving average price of $120.46. The firm has a market capitalization of $76.11 billion, a PE ratio of 20.45 and a beta of 1.11. Accenture PLC has a 52 week low of $108.66 and a 52 week high of $128.47.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Accenture PLC will post $5.88 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on the company. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the stock a “buy” rating in a research report on Saturday. BMO Capital Markets reiterated a “hold” rating and issued a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a research report on Thursday. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Wells Fargo & Company reiterated an “outperform” rating and issued a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Tuesday, March 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Accenture PLC currently has a consensus rating of “Buy” and an average price target of $130.79.

In other Accenture PLC news, CEO Pierre Nanterme sold 39,499 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $120.75, for a total value of $4,769,504.25. Following the transaction, the chief executive officer now owns 258,306 shares in the company, valued at approximately $31,190,449.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total transaction of $266,332.00. Following the completion of the transaction, the insider now owns 121,710 shares in the company, valued at approximately $14,734,212.60. The disclosure for this sale can be found here. Insiders sold a total of 51,218 shares of company stock worth $6,174,005 in the last quarter. 0.21% of the stock is currently owned by company insiders.

About Accenture PLC

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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