American International Group Inc. Acquires 997 Shares of Accenture PLC (NYSE:ACN)

American International Group Inc. raised its stake in Accenture PLC (NYSE:ACN) by 0.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 241,712 shares of the information technology services provider’s stock after buying an additional 997 shares during the period. American International Group Inc.’s holdings in Accenture PLC were worth $28,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. Coconut Grove Bank boosted its position 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 in the last quarter. Farmers & Merchants Investments Inc. boosted its position 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 in the last quarter. Howe & Rusling Inc. boosted its position 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 in the last quarter. Parkside Financial Bank & Trust boosted its position 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 in the last quarter. Finally, Opera Trading Capital purchased a new position in shares of Accenture PLC during the first quarter valued at $119,000. 77.48% of the stock is owned by institutional investors.

Shares of Accenture PLC (NYSE ACN) traded down 0.42% during midday trading on Tuesday, hitting $129.13. The company had a trading volume of 1,099,492 shares. The stock’s 50-day moving average price is $126.26 and its 200-day moving average price is $122.03. Accenture PLC has a one year low of $108.83 and a one year high of $130.67. The stock has a market capitalization of $79.80 billion, a price-to-earnings ratio of 22.87 and a beta of 1.11.

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

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Several brokerages have recently commented on ACN. BidaskClub downgraded Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and set a $135.00 target price on shares of Accenture PLC in a report on Friday, July 28th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 price target (up from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture PLC currently has an average rating of “Buy” and a consensus target price of $130.71.

In other Accenture PLC news, insider Gianfranco Casati sold 6,836 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 $840,622.92. Following the transaction, the insider now owns 61,714 shares of the company’s stock, valued at approximately $7,588,970.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $266,332.00. Following the completion of the transaction, the insider now 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 90 days, insiders sold 79,817 shares of company stock valued at $9,902,889. 0.21% of the stock is currently owned by company insiders.

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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