United Capital Financial Advisers LLC boosted its position in shares of Accenture PLC (NYSE:ACN) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,379 shares of the information technology services provider’s stock after buying an additional 2,543 shares during the period. United Capital Financial Advisers LLC’s holdings in Accenture PLC were worth $14,791,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. KCG Holdings Inc. raised its stake in shares of Accenture PLC by 132.7% in the first quarter. KCG Holdings Inc. now owns 11,762 shares of the information technology services provider’s stock worth $1,410,000 after buying an additional 6,708 shares during the last quarter. BlackRock Inc. raised its stake in Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after buying an additional 37,700,871 shares in the last quarter. Morgan Stanley raised its stake in Accenture PLC by 6.9% in the first quarter. Morgan Stanley now owns 8,891,898 shares of the information technology services provider’s stock worth $1,065,962,000 after buying an additional 573,871 shares in the last quarter. RMB Capital Management LLC raised its stake in Accenture PLC by 4.2% in the first quarter. RMB Capital Management LLC now owns 99,462 shares of the information technology services provider’s stock worth $11,923,000 after buying an additional 3,985 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Accenture PLC by 38.8% in the first quarter. Lazard Asset Management LLC now owns 4,297,555 shares of the information technology services provider’s stock worth $515,189,000 after buying an additional 1,202,048 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.
Accenture PLC (ACN) opened at 127.44 on Friday. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.67. The firm has a 50-day moving average of $127.52 and a 200-day moving average of $122.97. The stock has a market capitalization of $78.76 billion, a price-to-earnings ratio of 22.57 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 EPS for the quarter, hitting the consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.
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A number of analysts have weighed in on the company. Berenberg Bank set a $140.00 target price on Accenture PLC and gave the stock a “buy” rating in a report on Saturday, June 24th. Cowen and Company reaffirmed a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub downgraded Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Finally, SunTrust Banks, Inc. downgraded Accenture PLC from a “buy” rating to a “hold” rating and upped their target price for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. 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 given a strong buy rating to the company’s stock. Accenture PLC presently has a consensus rating of “Buy” and an average price target of $130.71.
In related news, insider Gianfranco Casati sold 6,836 shares of the firm’s 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 completion of the sale, the insider now directly owns 61,714 shares in the company, valued at $7,588,970.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $122.99, for a total transaction of $614,950.00. Following the sale, the chief operating officer now owns 126,417 shares of the company’s stock, valued at $15,548,026.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,817 shares of company stock valued at $9,920,929. Corporate insiders own 0.21% of the company’s stock.
About Accenture PLC
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.
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