Raymond James & Associates boosted its stake in Accenture Plc (NYSE:ACN) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,518 shares of the information technology services provider’s stock after buying an additional 24,647 shares during the period. Raymond James & Associates’ holdings in Accenture were worth $65,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACN. WP Advisors LLC acquired a new stake in Accenture in the second quarter worth $106,000. BDO Wealth Advisors LLC increased its position in Accenture by 105.3% in the first quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock worth $113,000 after buying an additional 379 shares during the period. MUFG Securities EMEA plc acquired a new stake in Accenture in the second quarter worth $118,000. Penserra Capital Management LLC acquired a new stake in Accenture in the first quarter worth $127,000. Finally, Well Done LLC acquired a new stake in Accenture in the first quarter worth $161,000. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the company. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a report on Wednesday. Wolfe Research assumed coverage on Accenture in a report on Tuesday, July 17th. They set an “underperform” rating on the stock. Pivotal Research set a $180.00 price target on Accenture and gave the company a “buy” rating in a report on Friday, June 29th. Credit Suisse Group raised their price target on Accenture from $151.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Finally, BMO Capital Markets raised their price target on Accenture to $170.00 and gave the company a “market perform” rating in a report on Friday, June 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $162.11.

In related news, insider Ellyn Shook sold 4,375 shares of Accenture stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $168.02, for a total transaction of $735,087.50. Following the transaction, the insider now directly owns 31,707 shares of the company’s stock, valued at $5,327,410.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $160.86, for a total value of $321,720.00. Following the transaction, the insider now directly owns 117,807 shares in the company, valued at $18,950,434.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,357 shares of company stock worth $8,865,112. 0.21% of the stock is owned by corporate insiders.

NYSE:ACN opened at $169.07 on Friday. The stock has a market cap of $114.26 billion, a P/E ratio of 28.61, a PEG ratio of 2.28 and a beta of 0.97. Accenture Plc has a 52-week low of $132.27 and a 52-week high of $169.93.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.07. The firm had revenue of $10.32 billion for the quarter, compared to analyst estimates of $10.04 billion. Accenture had a return on equity of 42.01% and a net margin of 9.76%. Accenture’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. analysts anticipate that Accenture Plc will post 6.71 EPS for the current year.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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