Pinnacle Wealth Management Advisory Group LLC cut its stake in shares of Accenture PLC (NYSE:ACN) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,300 shares of the information technology services provider’s stock after selling 235 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Accenture PLC were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACN. BlackRock Inc. raised its position in shares of Accenture PLC by 2,139.5% in the 1st quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after acquiring an additional 37,700,871 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Accenture PLC by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after acquiring an additional 2,749,896 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Accenture PLC by 8.8% in the 1st quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after acquiring an additional 1,738,262 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Accenture PLC by 38.8% in the 1st quarter. Lazard Asset Management LLC now owns 4,297,555 shares of the information technology services provider’s stock worth $515,189,000 after acquiring an additional 1,202,048 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Accenture PLC by 212.6% in the 1st quarter. Schroder Investment Management Group now owns 1,295,260 shares of the information technology services provider’s stock worth $156,105,000 after acquiring an additional 880,905 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, insider Gianfranco Casati sold 6,836 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $840,622.92. Following the completion of the sale, the insider now owns 61,714 shares of the company’s stock, valued at $7,588,970.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pierre Nanterme sold 40,134 shares of the firm’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 transaction of $4,937,284.68. Following the sale, the chief executive officer now directly owns 222,362 shares of the company’s stock, valued at approximately $27,354,973.24. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 in the last ninety days. Insiders own 0.21% of the company’s stock.

Accenture PLC (ACN) opened at 137.90 on Friday. The stock has a 50 day moving average price of $130.89 and a 200-day moving average price of $124.97. Accenture PLC has a 52 week low of $109.50 and a 52 week high of $138.00. The stock has a market cap of $85.22 billion, a P/E ratio of 24.42 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The business had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current fiscal year.

ACN has been the subject of several research analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Monday, May 29th. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. Finally, Morgan Stanley set a $132.00 price objective on Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $135.07.

About Accenture PLC

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.

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

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