IBM Retirement Fund lessened its position in shares of Accenture Plc (NYSE:ACN) by 6.7% in the 4th quarter, HoldingsChannel reports. The fund owned 10,789 shares of the information technology services provider’s stock after selling 775 shares during the period. IBM Retirement Fund’s holdings in Accenture were worth $1,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACN. Oregon Public Employees Retirement Fund grew its position in Accenture by 10,215.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock worth $175,000 after purchasing an additional 24,435,584 shares during the last quarter. Bank of New York Mellon Corp grew its position in Accenture by 115,500.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after purchasing an additional 10,213,711 shares during the last quarter. Capital World Investors grew its position in Accenture by 1,454.7% during the 3rd quarter. Capital World Investors now owns 2,876,218 shares of the information technology services provider’s stock worth $489,532,000 after purchasing an additional 2,691,218 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Accenture during the 3rd quarter worth approximately $354,668,000. Finally, Rehmann Capital Advisory Group grew its position in Accenture by 17,056.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 938,778 shares of the information technology services provider’s stock worth $5,515,000 after purchasing an additional 933,306 shares during the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.

In related news, insider Richard Lumb sold 2,000 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $155.88, for a total transaction of $311,760.00. Following the sale, the insider now directly owns 131,024 shares of the company’s stock, valued at $20,424,021.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Chad T. Jerdee sold 2,441 shares of the stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $140.00, for a total transaction of $341,740.00. Following the sale, the general counsel now directly owns 11,775 shares in the company, valued at $1,648,500. The disclosure for this sale can be found here. Insiders have sold 61,033 shares of company stock worth $8,466,177 over the last three months. 0.18% of the stock is currently owned by insiders.

Several analysts have weighed in on ACN shares. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Cantor Fitzgerald reissued a “buy” rating and set a $193.00 target price on shares of Accenture in a research report on Thursday, December 13th. Citigroup dropped their target price on shares of Accenture from $172.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 19th. KeyCorp dropped their target price on shares of Accenture from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 19th. Finally, Robert W. Baird dropped their target price on shares of Accenture from $176.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Accenture has a consensus rating of “Buy” and a consensus target price of $173.84.

ACN stock opened at $166.39 on Friday. The firm has a market capitalization of $110.52 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $175.64.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $10.61 billion for the quarter, compared to the consensus estimate of $10.54 billion. Accenture had a net margin of 9.99% and a return on equity of 40.31%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.79 EPS. As a group, sell-side analysts predict that Accenture Plc will post 7.2 earnings per share for the current fiscal year.

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Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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