New York State Teachers Retirement System cut its stake in Accenture PLC (NYSE:ACN) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 1,099,488 shares of the information technology services provider’s stock after selling 12,358 shares during the period. New York State Teachers Retirement System’s holdings in Accenture PLC were worth $131,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. Morgan Stanley increased its position in Accenture PLC by 6.9% in the first quarter. Morgan Stanley now owns 8,891,898 shares of the information technology services provider’s stock valued at $1,065,962,000 after buying an additional 573,871 shares during the last quarter. RMB Capital Management LLC increased its position in Accenture PLC by 4.2% in the first quarter. RMB Capital Management LLC now owns 99,462 shares of the information technology services provider’s stock valued at $11,923,000 after buying an additional 3,985 shares during the last quarter. Lazard Asset Management LLC increased its position in Accenture PLC by 38.8% in the first quarter. Lazard Asset Management LLC now owns 4,297,555 shares of the information technology services provider’s stock valued at $515,189,000 after buying an additional 1,202,048 shares during the last quarter. Northside Capital Management LLC acquired a new position in Accenture PLC during the first quarter valued at $909,000. Finally, River Wealth Advisors LLC increased its position in Accenture PLC by 0.9% in the first quarter. River Wealth Advisors LLC now owns 11,697 shares of the information technology services provider’s stock valued at $1,402,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

Accenture PLC (ACN) traded down 0.37% during mid-day trading on Monday, reaching $129.72. The company had a trading volume of 200,459 shares. The stock has a 50 day moving average of $126.05 and a 200 day moving average of $121.87. The stock has a market capitalization of $80.17 billion, a price-to-earnings ratio of 22.97 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.35.

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

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Several research firms have weighed in on ACN. BidaskClub downgraded Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research note on Friday, July 28th. Berenberg Bank set a $140.00 price target on Accenture PLC and gave the stock a “buy” rating in a research note on Saturday, June 24th. BMO Capital Markets restated a “hold” rating and issued a $130.00 price target (up from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 price target on Accenture PLC and gave the stock a “hold” rating in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $130.71.

In other Accenture PLC news, 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 transaction, the insider now owns 121,710 shares of the company’s stock, valued at $14,734,212.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gianfranco Casati sold 6,836 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total value of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares in the company, valued at approximately $7,588,970.58. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock worth $9,902,889 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

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

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