Accenture Plc (ACN) Shares Sold by Ridgewood Investments LLC
Ridgewood Investments LLC trimmed its position in shares of Accenture Plc (NYSE:ACN) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,641 shares of the information technology services provider’s stock after selling 500 shares during the quarter. Ridgewood Investments LLC’s holdings in Accenture were worth $251,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eagle Ridge Investment Management purchased a new stake in Accenture during the third quarter worth $359,000. Atlanta Capital Management Co. L L C boosted its position in Accenture by 4.6% during the third quarter. Atlanta Capital Management Co. L L C now owns 580,977 shares of the information technology services provider’s stock worth $78,472,000 after purchasing an additional 25,671 shares in the last quarter. Koch Industries Inc. lifted its position in shares of Accenture by 18,227.9% in the second quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock valued at $327,000 after acquiring an additional 328,103 shares in the last quarter. Lenox Wealth Management Inc. purchased a new stake in shares of Accenture in the second quarter valued at $1,591,000. Finally, Independent Franchise Partners LLP lifted its position in shares of Accenture by 3.7% in the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after acquiring an additional 222,828 shares in the last quarter. Institutional investors own 75.28% of the company’s stock.
Several analysts have recently issued reports on the company. Cowen restated a “buy” rating and issued a $175.00 price objective on shares of Accenture in a research report on Friday. KeyCorp restated a “buy” rating and issued a $149.00 price objective on shares of Accenture in a research report on Thursday, September 28th. Cantor Fitzgerald restated a “buy” rating and issued a $135.00 price objective on shares of Accenture in a research report on Thursday, September 28th. BMO Capital Markets upped their price objective on Accenture from $130.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, September 29th. Finally, Pivotal Research restated a “buy” rating and issued a $180.00 price objective on shares of Accenture in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $156.57.
Accenture Plc (ACN) opened at $160.11 on Monday. The company has a market capitalization of $101,714.37, a price-to-earnings ratio of 28.34, a P/E/G ratio of 2.41 and a beta of 1.08. Accenture Plc has a 12 month low of $112.31 and a 12 month high of $160.63.
Accenture (NYSE:ACN) last released its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.12. The firm had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 earnings per share. research analysts expect that Accenture Plc will post 6.64 EPS for the current fiscal year.
In other Accenture news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $138.94, for a total transaction of $305,668.00. Following the completion of the sale, the insider now directly owns 117,151 shares in the company, valued at $16,276,959.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard P. Clark sold 1,754 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $158.39, for a total value of $277,816.06. Following the sale, the insider now owns 10,543 shares of the company’s stock, valued at $1,669,905.77. The disclosure for this sale can be found here. Insiders sold 82,116 shares of company stock valued at $12,211,924 over the last quarter. Insiders own 0.21% of the company’s stock.
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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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