Accenture PLC (ACN) Stake Decreased by Atlantic Trust Group LLC

Atlantic Trust Group LLC reduced its stake in Accenture PLC (NYSE:ACN) by 2.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 162,237 shares of the information technology services provider’s stock after selling 3,931 shares during the period. Atlantic Trust Group LLC’s holdings in Accenture PLC were worth $19,450,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Coconut Grove Bank boosted its stake in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. boosted its stake in shares of Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 11 shares during the period. Howe & Rusling Inc. boosted its stake in shares of Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 113 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Accenture PLC during the fourth quarter valued at about $116,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 19 shares during the period. 77.44% of the stock is currently owned by hedge funds and other institutional investors.

Accenture PLC (NYSE ACN) traded up 0.14% on Friday, hitting $130.20. The stock had a trading volume of 1,283,185 shares. Accenture PLC has a 12 month low of $108.83 and a 12 month high of $130.67. The firm’s 50 day moving average price is $126.05 and its 200-day moving average price is $121.87. The stock has a market cap of $80.46 billion, a PE ratio of 23.06 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. On average, analysts forecast that Accenture PLC will post $5.90 EPS for the current year.

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Several brokerages have weighed in on ACN. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the stock a “buy” rating in a research note on Saturday, June 24th. Cowen and Company reissued a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a research note on Friday, July 28th. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Robert W. Baird reissued a “neutral” rating and set a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $130.71.

In related news, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $121.06, for a total value of $266,332.00. Following the completion of the sale, the insider now owns 121,710 shares in the company, valued at approximately $14,734,212.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,200 shares of Accenture PLC stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $393,504.00. Following the completion of the sale, the general counsel now owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock valued at $9,902,889 in the last 90 days. Insiders own 0.21% of the company’s stock.

Accenture PLC Company Profile

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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