Arvest Bank Trust Division Sells 2,699 Shares of Accenture Plc (NYSE:ACN)

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Arvest Bank Trust Division cut its holdings in shares of Accenture Plc (NYSE:ACN) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,954 shares of the information technology services provider’s stock after selling 2,699 shares during the quarter. Accenture comprises 1.9% of Arvest Bank Trust Division’s investment portfolio, making the stock its 11th largest holding. Arvest Bank Trust Division’s holdings in Accenture were worth $27,470,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Weik Capital Management acquired a new position in shares of Accenture in the first quarter valued at $215,000. OMERS ADMINISTRATION Corp raised its stake in Accenture by 24.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 53,600 shares of the information technology services provider’s stock worth $8,228,000 after acquiring an additional 10,700 shares in the last quarter. MML Investors Services LLC raised its stake in Accenture by 6.7% during the first quarter. MML Investors Services LLC now owns 29,385 shares of the information technology services provider’s stock worth $4,511,000 after acquiring an additional 1,857 shares in the last quarter. GSA Capital Partners LLP raised its stake in Accenture by 44.9% during the first quarter. GSA Capital Partners LLP now owns 3,517 shares of the information technology services provider’s stock worth $540,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Accenture by 3.6% during the first quarter. Stifel Financial Corp now owns 790,568 shares of the information technology services provider’s stock worth $121,451,000 after acquiring an additional 27,400 shares in the last quarter. Institutional investors own 73.67% of the company’s stock.

Accenture traded down $0.40, reaching $159.63, during midday trading on Friday, Marketbeat reports. The stock had a trading volume of 3,542,567 shares, compared to its average volume of 2,204,417. Accenture Plc has a 1-year low of $119.10 and a 1-year high of $165.58. The firm has a market cap of $102.77 billion, a PE ratio of 27.01, a P/E/G ratio of 2.42 and a beta of 1.03.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.31 billion. During the same quarter last year, the firm earned $1.33 EPS. Accenture’s revenue for the quarter was up 15.2% compared to the same quarter last year. analysts anticipate that Accenture Plc will post 6.68 EPS for the current fiscal year.

In other Accenture news, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total value of $312,200.00. Following the completion of the transaction, the insider now directly owns 120,025 shares in the company, valued at $18,735,902.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $150.72, for a total value of $753,600.00. Following the completion of the transaction, the chief operating officer now owns 73,638 shares of the company’s stock, valued at $11,098,719.36. The disclosure for this sale can be found here. In the last three months, insiders sold 53,828 shares of company stock worth $8,145,630. 0.21% of the stock is owned by insiders.

ACN has been the topic of several research analyst reports. UBS Group upgraded Accenture from a “neutral” rating to a “positive” rating in a report on Tuesday. Pivotal Research set a $180.00 target price on Accenture and gave the stock a “buy” rating in a report on Monday, June 11th. Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating in a report on Wednesday. Susquehanna Bancshares upgraded Accenture from a “neutral” rating to a “positive” rating and increased their target price for the stock from $165.00 to $190.00 in a report on Tuesday. Finally, Robert W. Baird raised their price target on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. Accenture currently has an average rating of “Buy” and an average price target of $164.59.

Accenture 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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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