Palladium Partners LLC Acquires 171 Shares of Accenture PLC (NYSE:ACN)

Palladium Partners LLC lifted its stake in shares of Accenture PLC (NYSE:ACN) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,902 shares of the information technology services provider’s stock after purchasing an additional 171 shares during the period. Palladium Partners LLC’s holdings in Accenture PLC were worth $359,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Accenture PLC by 2,139.5% during the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after buying an additional 37,700,871 shares during the period. Vanguard Group Inc. raised its position in Accenture PLC by 6.2% during the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after buying an additional 2,749,896 shares during the period. Wellington Management Group LLP raised its position in Accenture PLC by 8.8% during the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after buying an additional 1,738,262 shares during the period. Lazard Asset Management LLC raised its position in Accenture PLC by 38.8% during the first quarter. Lazard Asset Management LLC now owns 4,297,555 shares of the information technology services provider’s stock valued at $515,189,000 after buying an additional 1,202,048 shares during the period. Finally, Schroder Investment Management Group raised its position in Accenture PLC by 212.6% during the first quarter. Schroder Investment Management Group now owns 1,295,260 shares of the information technology services provider’s stock valued at $156,105,000 after buying an additional 880,905 shares during the period. 77.80% of the stock is currently owned by institutional investors.

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ACN has been the topic of several recent analyst reports. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 target price (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Cowen and Company upped their target price on Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus upped their target price on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $132.59.

Shares of Accenture PLC (NYSE:ACN) traded down 0.04% during trading on Friday, hitting $134.80. The stock had a trading volume of 1,650,574 shares. The stock has a market capitalization of $83.30 billion, a P/E ratio of 23.87 and a beta of 1.11. The stock’s 50-day moving average is $130.21 and its 200-day moving average is $124.68. Accenture PLC has a 12-month low of $109.12 and a 12-month high of $136.95.

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

In other news, COO Johan Deblaere sold 5,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.99, for a total transaction of $614,950.00. Following the completion of the transaction, the chief operating officer now directly owns 126,417 shares in the company, valued at $15,548,026.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $393,504.00. Following the transaction, the general counsel now owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 over the last quarter. Company insiders own 0.21% of the company’s stock.

Accenture PLC 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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