Sit Investment Associates Inc. reduced its position in shares of Accenture PLC (NYSE:ACN) by 33.3% during the second quarter, Holdings Channel reports. The institutional investor owned 252,040 shares of the company’s stock after selling 125,815 shares during the period. Sit Investment Associates Inc.’s holdings in Accenture PLC were worth $28,554,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Cribstone Capital Management LLC purchased a new stake in shares of Accenture PLC during the second quarter worth about $104,000. City Holding Co. raised its stake in shares of Accenture PLC by 8.4% in the second quarter. City Holding Co. now owns 1,221 shares of the company’s stock worth $138,000 after buying an additional 95 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in shares of Accenture PLC by 18.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,215 shares of the company’s stock worth $138,000 after buying an additional 185 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Accenture PLC by 53.3% in the first quarter. Ropes Wealth Advisors LLC now owns 1,420 shares of the company’s stock worth $164,000 after buying an additional 494 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Accenture PLC by 89.3% in the first quarter. Loomis Sayles & Co. L P now owns 1,662 shares of the company’s stock worth $192,000 after buying an additional 784 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Accenture PLC (NYSE:ACN) traded up 0.03% during mid-day trading on Wednesday, hitting $118.27. The stock had a trading volume of 2,210,613 shares. Accenture PLC has a 52-week low of $91.40 and a 52-week high of $124.96. The stock has a market cap of $73.63 billion, a P/E ratio of 18.34 and a beta of 1.25. The company’s 50 day moving average is $114.21 and its 200-day moving average is $114.84.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The firm earned $8.49 billion during the quarter. During the same period in the previous year, the business posted $1.15 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Accenture PLC will post $5.93 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on ACN shares. Cantor Fitzgerald reissued a “buy” rating and issued a $126.00 target price on shares of Accenture PLC in a research report on Monday, June 20th. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Sunday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Sunday, June 26th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Tuesday, July 19th. Ten investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $124.75.
In related news, insider Richard P. Clark sold 876 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $113.43, for a total value of $99,364.68. Following the sale, the insider now directly owns 16,396 shares of the company’s stock, valued at approximately $1,859,798.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $121.29, for a total transaction of $606,450.00. Following the completion of the sale, the insider now directly owns 62,160 shares in the company, valued at $7,539,386.40. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Accenture PLC Company Profile
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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