Fiduciary Management Inc. WI raised its stake in shares of Accenture PLC (NYSE:ACN) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,031,988 shares of the information technology services provider’s stock after buying an additional 226,976 shares during the period. Accenture PLC comprises 4.9% of Fiduciary Management Inc. WI’s investment portfolio, making the stock its largest position. Fiduciary Management Inc. WI’s holdings in Accenture PLC were worth $842,995,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Thrivent Financial For Lutherans increased its position in shares of Accenture PLC by 6.7% in the first quarter. Thrivent Financial For Lutherans now owns 22,990 shares of the information technology services provider’s stock valued at $2,756,000 after buying an additional 1,450 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Accenture PLC by 22.9% in the first quarter. Financial Counselors Inc. now owns 3,973 shares of the information technology services provider’s stock worth $476,000 after buying an additional 739 shares in the last quarter. Ngam Advisors L.P. increased its position in shares of Accenture PLC by 3.8% in the first quarter. Ngam Advisors L.P. now owns 417,218 shares of the information technology services provider’s stock worth $50,016,000 after buying an additional 15,220 shares in the last quarter. Mirador Capital Partners LP bought a new position in shares of Accenture PLC during the first quarter worth $401,000. Finally, Simmons Bank bought a new position in shares of Accenture PLC during the first quarter worth $566,000. Institutional investors and hedge funds own 76.88% of the company’s stock.
Accenture PLC (ACN) opened at 127.44 on Friday. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 22.57 and a beta of 1.11. The firm’s 50-day moving average is $127.52 and its 200 day moving average is $122.97. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67.
Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, meeting the Zacks’ 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 was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. On average, equities analysts expect that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a report on Friday, July 28th. Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $130.00 price target (up previously from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Accenture PLC presently has an average rating of “Buy” and an average price target of $130.71.
In related news, insider Ellyn Shook sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $125.00, for a total transaction of $550,000.00. Following the transaction, the insider now directly owns 37,344 shares of the company’s stock, valued at approximately $4,668,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gianfranco Casati sold 6,836 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares in the company, valued at $7,588,970.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,817 shares of company stock valued at $9,920,929. 0.21% of the stock is currently owned by corporate 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.
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