Accenture PLC (ACN) Stake Lowered by Conning Inc.
Conning Inc. lowered its holdings in Accenture PLC (NYSE:ACN) by 0.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,990 shares of the information technology services provider’s stock after selling 70 shares during the quarter. Conning Inc.’s holdings in Accenture PLC were worth $1,854,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coconut Grove Bank increased its holdings in shares of Accenture PLC by 75.7% in the 1st quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 364 shares during the last quarter. Bellwether Investment Group LLC grew its stake in Accenture PLC by 64.2% during the 1st quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Accenture PLC by 2.0% during the 1st 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. Opera Trading Capital purchased a new position in Accenture PLC during the 1st quarter worth approximately $119,000. Finally, Harbour Capital Advisors LLC purchased a new position in Accenture PLC during the 1st quarter worth approximately $122,000. Institutional investors and hedge funds own 77.80% of the company’s stock.
A number of research analysts recently issued reports on ACN shares. Stifel Nicolaus raised their price target on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research note on Thursday. BidaskClub downgraded Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. 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. Finally, Bank of America Corporation started coverage on Accenture PLC in a research note on Tuesday. They set a “buy” rating and a $150.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $132.59.
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Shares of Accenture PLC (ACN) opened at 134.87 on Friday. The firm has a market capitalization of $83.35 billion, a PE ratio of 23.88 and a beta of 1.11. The stock has a 50 day moving average price of $130.21 and a 200 day moving average price of $124.68. Accenture PLC has a 12-month low of $109.12 and a 12-month high of $136.95.
Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $8.87 billion during 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 business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.
In related news, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was 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 approximately $7,281,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $122.97, for a total value of $393,504.00. Following the completion of the transaction, the general counsel now directly owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 over the last ninety days. Corporate 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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