Investment Research Partners LLC Invests $662,000 in Accenture PLC $ACN

Investment Research Partners LLC bought a new position in Accenture PLC (NYSE:ACNFree Report) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,672 shares of the information technology services provider’s stock, valued at approximately $662,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Accenture by 0.4% in the third quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider’s stock valued at $6,938,156,000 after acquiring an additional 118,460 shares during the period. Capital International Investors boosted its holdings in shares of Accenture by 41.1% during the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after purchasing an additional 4,984,930 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Accenture by 12.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider’s stock worth $2,502,446,000 after purchasing an additional 1,148,970 shares during the last quarter. Sanders Capital LLC increased its holdings in Accenture by 9.0% during the 3rd quarter. Sanders Capital LLC now owns 9,615,366 shares of the information technology services provider’s stock valued at $2,371,149,000 after purchasing an additional 790,580 shares during the period. Finally, Norges Bank purchased a new position in Accenture during the 2nd quarter valued at about $2,216,850,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture News Roundup

Here are the key news stories impacting Accenture this week:

Accenture Stock Performance

Shares of ACN stock opened at $194.77 on Thursday. The stock has a market cap of $119.90 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12 month low of $188.73 and a 12 month high of $326.73. The company’s fifty day moving average price is $237.56 and its 200-day moving average price is $247.47.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings results on Thursday, December 18th. The information technology services provider reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.21. The company had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $18.51 billion. Accenture had a return on equity of 26.65% and a net margin of 10.76%.The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.59 EPS. On average, equities analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Insider Transactions at Accenture

In other news, COO Catherine Kiernan Hogan sold 660 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $280.93, for a total transaction of $185,413.80. Following the completion of the transaction, the chief operating officer directly owned 12,688 shares in the company, valued at $3,564,439.84. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 6,057 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the sale, the chief executive officer directly owned 15,255 shares in the company, valued at $3,679,963.65. This trade represents a 28.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,088 shares of company stock valued at $5,970,434. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACN. HSBC increased their price objective on Accenture from $215.00 to $235.00 in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a report on Friday, March 6th. UBS Group reiterated a “buy” rating on shares of Accenture in a report on Tuesday. Argus decreased their price objective on shares of Accenture from $370.00 to $335.00 and set a “buy” rating for the company in a report on Monday, December 29th. Finally, Berenberg Bank began coverage on shares of Accenture in a research report on Thursday, January 22nd. They issued a “buy” rating and a $313.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.19.

Read Our Latest Stock Analysis on ACN

Accenture Company Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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