Accenture PLC (NYSE:ACN) Position Reduced by Invictus RG

Invictus RG cut its stake in shares of Accenture PLC (NYSE:ACN) by 16.6% during the first quarter, Holdings Channel reports. The institutional investor owned 1,845 shares of the information technology services provider’s stock after selling 368 shares during the period. Invictus RG’s holdings in Accenture PLC were worth $221,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Waldron LP boosted its stake in Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after buying an additional 2,756 shares in the last quarter. Hermes Investment Management Ltd. boosted its stake in Accenture PLC by 4.3% in the first quarter. Hermes Investment Management Ltd. now owns 478,527 shares of the information technology services provider’s stock valued at $57,366,000 after buying an additional 19,687 shares in the last quarter. Novare Capital Management LLC boosted its stake in Accenture PLC by 8.1% in the first quarter. Novare Capital Management LLC now owns 39,548 shares of the information technology services provider’s stock valued at $4,741,000 after buying an additional 2,950 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Accenture PLC by 8.8% in the first quarter. William Blair Investment Management LLC now owns 641,952 shares of the information technology services provider’s stock valued at $76,957,000 after buying an additional 51,674 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Accenture PLC by 9.3% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,269 shares of the information technology services provider’s stock valued at $272,000 after buying an additional 193 shares in the last quarter. 77.48% of the stock is currently owned by hedge funds and other institutional investors.

Accenture PLC (NYSE:ACN) traded up 0.004% during trading on Tuesday, hitting $129.685. 109,059 shares of the stock traded hands. The stock has a market cap of $80.14 billion, a PE ratio of 22.965 and a beta of 1.11. Accenture PLC has a one year low of $108.83 and a one year high of $129.89. The company has a 50-day moving average price of $126.05 and a 200 day moving average price of $121.87.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business earned $1.41 earnings per share. Analysts expect that Accenture PLC will post $5.90 earnings per share for the current year.

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ACN has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Morgan Stanley set a $132.00 price target on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 price target (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Cowen and Company upped their price target on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $138.00 price target (up from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Accenture PLC has an average rating of “Buy” and a consensus price target of $130.71.

In other Accenture PLC news, CEO Pierre Nanterme sold 40,134 shares of Accenture PLC stock in a transaction on Monday, June 26th. The stock was sold at an average price of $123.02, for a total transaction of $4,937,284.68. Following the completion of the transaction, the chief executive officer now directly owns 222,362 shares of the company’s stock, valued at $27,354,973.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction 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 transaction, the insider now directly owns 121,710 shares of the company’s stock, valued at $14,734,212.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,817 shares of company stock valued at $9,902,889. Company 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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN).

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

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