Meeder Asset Management Inc. Purchases 4,059 Shares of Accenture PLC (NYSE:ACN)

Meeder Asset Management Inc. increased its stake in Accenture PLC (NYSE:ACN) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,335 shares of the information technology services provider’s stock after buying an additional 4,059 shares during the period. Meeder Asset Management Inc.’s holdings in Accenture PLC were worth $6,275,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ACN. Wellington Management Group LLP boosted its stake in shares of Accenture PLC by 8.8% in 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. Schroder Investment Management Group boosted its stake in shares of Accenture PLC by 212.6% in 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. Bank of New York Mellon Corp boosted its stake in shares of Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock valued at $1,667,243,000 after buying an additional 625,381 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Accenture PLC by 1,572.6% in the first quarter. OppenheimerFunds Inc. now owns 530,553 shares of the information technology services provider’s stock valued at $63,604,000 after buying an additional 498,833 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Accenture PLC by 23.5% in the first quarter. Swiss National Bank now owns 2,516,617 shares of the information technology services provider’s stock valued at $301,692,000 after buying an additional 479,100 shares during the period. 76.88% of the stock is owned by institutional investors and hedge funds.

Shares of Accenture PLC (ACN) traded down 0.12% during midday trading on Friday, hitting $127.44. The company had a trading volume of 1,263,534 shares. The firm has a market capitalization of $78.76 billion, a P/E 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 announced its earnings results 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. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter last year, the firm earned $1.41 EPS. Accenture PLC’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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Several brokerages have commented on ACN. BidaskClub cut shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cowen and Company reiterated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Friday, July 28th. Morgan Stanley set a $132.00 price target on shares of Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price target (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $130.00 price target (up from $125.00) on shares of Accenture PLC in a research 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 given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $130.71.

In other Accenture PLC news, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $129.26, for a total transaction of $284,372.00. Following the transaction, the insider now owns 119,013 shares of the company’s stock, valued at approximately $15,383,620.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was 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 approximately $7,588,970.58. The disclosure for this sale can be found here. In the last three months, insiders sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is owned by 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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