Accenture PLC (ACN) Position Raised by Keel Point LLC
Keel Point LLC raised its position in shares of Accenture PLC (NYSE:ACN) by 25.5% during the first quarter, Holdings Channel reports. The fund owned 7,525 shares of the information technology services provider’s stock after buying an additional 1,530 shares during the period. Keel Point LLC’s holdings in Accenture PLC were worth $902,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Coconut Grove Bank boosted its stake in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock worth $101,000 after buying an additional 364 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in 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. boosted its stake in 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. Bellwether Investment Group LLC boosted its stake in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in 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. 77.48% of the stock is owned by institutional investors.
Shares of Accenture PLC (ACN) traded down 0.17% during midday trading on Thursday, reaching $129.40. The company had a trading volume of 408,502 shares. Accenture PLC has a one year low of $108.83 and a one year high of $129.89. The company has a market capitalization of $79.97 billion, a PE ratio of 22.91 and a beta of 1.11. The company has a 50 day moving average of $126.45 and a 200 day moving average of $122.38.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The firm had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.
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ACN has been the subject of several research reports. Cowen and Company lifted their price target on Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. SunTrust Banks, Inc. cut Accenture PLC from a “buy” rating to a “hold” rating and lifted their price target for the stock from $122.15 to $130.00 in a report on Wednesday, May 24th. Cantor Fitzgerald reissued a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a report on Monday, May 29th. Finally, BMO Capital Markets reissued a “hold” rating and set a $130.00 price target (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Two equities 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 stock. Accenture PLC presently has a consensus rating of “Buy” and an average target price of $130.71.
In other news, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $127.51, for a total transaction of $280,522.00. Following the transaction, the insider now directly owns 119,942 shares of the company’s stock, valued at $15,293,804.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Pierre Nanterme sold 40,134 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $123.02, for a total value of $4,937,284.68. Following the transaction, the chief executive officer now directly owns 222,362 shares in the company, valued at $27,354,973.24. The disclosure for this sale can be found here. Insiders have sold 77,617 shares of company stock worth $9,636,557 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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