Vivaldi Capital Management LLC Raises Stock Holdings in Accenture Plc (NYSE:ACN)

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Vivaldi Capital Management LLC grew its holdings in shares of Accenture Plc (NYSE:ACN) by 123.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,784 shares of the information technology services provider’s stock after purchasing an additional 2,645 shares during the period. Vivaldi Capital Management LLC’s holdings in Accenture were worth $884,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ACN. Lenox Wealth Advisors LLC increased its stake in Accenture by 297.1% during the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 101 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in Accenture during the first quarter worth about $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Accenture by 455.9% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 155 shares during the period. Next Capital Management LLC purchased a new stake in Accenture during the second quarter worth about $34,000. Finally, Weaver Consulting Group purchased a new stake in Accenture during the first quarter worth about $39,000. Institutional investors own 69.84% of the company’s stock.

ACN traded down $1.06 on Friday, reaching $193.61. The company’s stock had a trading volume of 51,757 shares, compared to its average volume of 1,771,012. The stock has a 50 day moving average of $194.25 and a two-hundred day moving average of $183.41. The company has a market capitalization of $130.81 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 2.37 and a beta of 1.04. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.79 earnings per share. On average, research analysts forecast that Accenture Plc will post 7.33 EPS for the current year.

In other Accenture news, insider Daniel T. London sold 2,283 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total value of $429,272.49. Following the completion of the sale, the insider now owns 27,294 shares in the company, valued at $5,132,090.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Chad T. Jerdee sold 3,247 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $186.34, for a total value of $605,045.98. Following the completion of the sale, the general counsel now owns 13,271 shares of the company’s stock, valued at approximately $2,472,918.14. The disclosure for this sale can be found here. Insiders sold 22,760 shares of company stock valued at $4,353,328 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on ACN shares. BMO Capital Markets boosted their price objective on Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a research report on Friday, June 28th. Citigroup boosted their price objective on Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Co boosted their price objective on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Credit Suisse Group set a $180.00 price objective on Accenture and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Bank of America boosted their price objective on Accenture from $182.00 to $186.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Accenture has an average rating of “Buy” and a consensus price target of $199.06.

About Accenture

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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