Penn Davis Mcfarland Inc. reduced its stake in Accenture PLC (NYSE:ACN) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 50,548 shares of the information technology services provider’s stock after selling 2,555 shares during the period. Accenture PLC accounts for about 1.9% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 22nd largest position. Penn Davis Mcfarland Inc.’s holdings in Accenture PLC were worth $6,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Waldron LP boosted its position in shares of Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after buying an additional 2,756 shares during the last quarter. Hermes Investment Management Ltd. boosted its position in shares of Accenture PLC by 4.3% in the first quarter. Hermes Investment Management Ltd. now owns 478,527 shares of the information technology services provider’s stock valued at $57,366,000 after buying an additional 19,687 shares during the last quarter. Novare Capital Management LLC boosted its position in shares of Accenture PLC by 8.1% in the first quarter. Novare Capital Management LLC now owns 39,548 shares of the information technology services provider’s stock valued at $4,741,000 after buying an additional 2,950 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in shares of Accenture PLC by 9.3% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,269 shares of the information technology services provider’s stock valued at $272,000 after buying an additional 193 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Accenture PLC by 8.8% in the first quarter. William Blair Investment Management LLC now owns 641,952 shares of the information technology services provider’s stock valued at $76,957,000 after buying an additional 51,674 shares during the last quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.

Accenture PLC (ACN) traded up 0.14% during trading on Friday, reaching $130.20. The company had a trading volume of 1,283,185 shares. The company’s 50-day moving average is $126.05 and its 200 day moving average is $121.87. The firm has a market capitalization of $80.46 billion, a price-to-earnings ratio of 23.06 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.67.

Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. Equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.

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ACN has been the topic of several research reports. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Morgan Stanley set a $132.00 price objective on Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Cowen and Company lifted their price objective on Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Accenture PLC currently has a consensus rating of “Buy” and an average target price of $130.71.

In other news, insider Gianfranco Casati sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the transaction, the insider now directly owns 56,014 shares in the company, valued at $7,281,820. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total value of $266,332.00. Following the transaction, the insider now owns 121,710 shares of the company’s stock, valued at $14,734,212.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,817 shares of company stock valued at $9,902,889. 0.21% of the stock is owned by 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.

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

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