Accenture PLC (ACN) Position Boosted by PHH Investments Ltd.
PHH Investments Ltd. boosted its stake in Accenture PLC (NYSE:ACN) by 10.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,301 shares of the information technology services provider’s stock after buying an additional 892 shares during the period. PHH Investments Ltd.’s holdings in Accenture PLC were worth $1,150,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Coconut Grove Bank grew its position in 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 buying an additional 364 shares in the last quarter. Bellwether Investment Group LLC grew its position in Accenture PLC by 64.2% in the 1st 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 in the last quarter. Parkside Financial Bank & Trust grew its position in Accenture PLC by 2.0% in the 1st 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 in the last quarter. Opera Trading Capital bought a new position in Accenture PLC in the 1st quarter valued at about $119,000. Finally, Harbour Capital Advisors LLC bought a new position in Accenture PLC in the 1st quarter valued at about $122,000. Hedge funds and other institutional investors own 77.80% of the company’s stock.
In related news, General Counsel Chad T. Jerdee sold 3,200 shares of the business’s 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 in the company, valued at approximately $2,283,061.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pierre Nanterme sold 40,134 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 222,362 shares of the company’s stock, valued at $27,354,973.24. The disclosure for this sale can be found here. Insiders sold a total of 79,817 shares of company stock valued at $9,920,929 over the last quarter. 0.21% of the stock is owned by insiders.
Shares of Accenture PLC (NYSE ACN) opened at 135.35 on Friday. The stock has a market capitalization of $83.64 billion, a price-to-earnings ratio of 23.97 and a beta of 1.11. The stock has a 50 day moving average of $130.42 and a 200-day moving average of $124.76. Accenture PLC has a 52-week low of $109.50 and a 52-week high of $136.95.
Accenture PLC (NYSE:ACN) last issued 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 Thomson Reuters’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the previous year, the firm earned $1.41 EPS. Accenture PLC’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.
Several equities analysts have recently weighed in on ACN shares. Stifel Nicolaus raised their price objective on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research report on Thursday. BidaskClub lowered shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. Finally, Bank of America Corporation started coverage on shares of Accenture PLC in a research report on Tuesday, September 12th. They set a “buy” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Accenture PLC presently has an average rating of “Buy” and a consensus target price of $132.59.
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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