Cambridge Advisors Inc. reduced its position in shares of Accenture PLC (NYSE:ACN) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 17,365 shares of the information technology services provider’s stock after selling 1,050 shares during the period. Accenture PLC makes up approximately 0.9% of Cambridge Advisors Inc.’s holdings, making the stock its 20th largest position. Cambridge Advisors Inc.’s holdings in Accenture PLC were worth $2,148,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ropes Wealth Advisors LLC raised its position in shares of Accenture PLC by 0.5% in the first quarter. Ropes Wealth Advisors LLC now owns 1,412 shares of the information technology services provider’s stock worth $169,000 after buying an additional 7 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 worth $104,000 after buying an additional 11 shares during the last quarter. Blue Fin Capital Inc. raised its position in shares of Accenture PLC by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 4,400 shares of the information technology services provider’s stock worth $527,000 after buying an additional 12 shares during the last quarter. Glenview Trust Co raised its position in shares of Accenture PLC by 0.3% in the first quarter. Glenview Trust Co now owns 4,935 shares of the information technology services provider’s stock worth $591,000 after buying an additional 15 shares during the last quarter. Finally, 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 worth $117,000 after buying an additional 19 shares during the last quarter. 77.48% of the stock is currently owned by institutional investors.

Accenture PLC (NYSE:ACN) traded up 0.02% on Friday, hitting $128.27. The stock had a trading volume of 561,742 shares. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.67. The firm has a market cap of $79.27 billion, a P/E ratio of 22.71 and a beta of 1.11. The firm’s 50-day moving average price is $126.48 and its 200-day moving average price is $122.42.

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, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Accenture PLC will post $5.90 earnings per share for the current year.

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ACN has been the topic of several research reports. Berenberg Bank set a $140.00 price target on Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Cowen and Company reissued a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub lowered Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a research report on Monday, May 29th. Finally, SunTrust Banks, Inc. lowered Accenture PLC from a “buy” rating to a “hold” rating and upped their price target for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $130.71.

In other Accenture PLC news, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.26, for a total value of $284,372.00. Following the completion of the transaction, the insider now directly owns 119,013 shares of the company’s stock, valued at $15,383,620.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the transaction, the insider now directly owns 56,014 shares of the company’s stock, valued at $7,281,820. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,817 shares of company stock valued at $9,920,929. 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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Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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