Hermes Investment Management Ltd. cut its stake in shares of Accenture PLC (NYSE:ACN) by 10.3% during the second quarter, Holdings Channel reports. The firm owned 429,181 shares of the information technology services provider’s stock after selling 49,346 shares during the period. Hermes Investment Management Ltd.’s holdings in Accenture PLC were worth $53,081,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CENTRAL TRUST Co increased its stake in shares of Accenture PLC by 2.2% in the first quarter. CENTRAL TRUST Co now owns 7,136 shares of the information technology services provider’s stock valued at $856,000 after buying an additional 152 shares during the period. Gillespie Robinson & Grimm Inc. increased its stake in shares of Accenture PLC by 2.2% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 176,227 shares of the information technology services provider’s stock valued at $21,126,000 after buying an additional 3,785 shares during the period. Stock Yards Bank & Trust Co. increased its stake in shares of Accenture PLC by 2.5% in the first quarter. Stock Yards Bank & Trust Co. now owns 95,426 shares of the information technology services provider’s stock valued at $11,440,000 after buying an additional 2,314 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Accenture PLC by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 192,858 shares of the information technology services provider’s stock valued at $23,119,000 after buying an additional 2,400 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Accenture PLC by 4.8% in the first quarter. Quadrant Capital Group LLC now owns 1,845 shares of the information technology services provider’s stock valued at $210,000 after buying an additional 85 shares during the period. Institutional investors own 77.48% of the company’s stock.

Accenture PLC (NYSE:ACN) traded down 0.51% on Monday, reaching $129.53. 438,421 shares of the company’s stock were exchanged. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.35. The firm has a 50-day moving average price of $126.05 and a 200-day moving average price of $121.87. The company has a market capitalization of $80.05 billion, a P/E ratio of 22.94 and a beta of 1.11.

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

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Several equities research analysts have weighed in on ACN shares. SunTrust Banks, Inc. downgraded shares of Accenture PLC from a “buy” rating to a “hold” rating and raised their target price for the company from $122.15 to $130.00 in a research note on Wednesday, May 24th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a report on Monday, May 29th. Zacks Investment Research cut shares of Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $138.00 price target (up previously from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $130.71.

In other Accenture PLC news, CEO Pierre Nanterme sold 40,134 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $123.02, for a total transaction of $4,937,284.68. Following the completion of the transaction, the chief executive officer now owns 222,362 shares in the company, valued at approximately $27,354,973.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gianfranco Casati sold 5,000 shares of the company’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 transaction, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The disclosure for this sale can be found here. In the last 90 days, 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.

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

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