Longview Partners Guernsey LTD cut its stake in shares of Accenture PLC (NYSE:ACN) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,166,134 shares of the company’s stock after selling 168,270 shares during the period. Accenture PLC accounts for 4.6% of Longview Partners Guernsey LTD’s investment portfolio, making the stock its 7th largest position. Longview Partners Guernsey LTD’s holdings in Accenture PLC were worth $698,561,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ACN. Canada Pension Plan Investment Board increased its position in shares of Accenture PLC by 504.9% in the first quarter. Canada Pension Plan Investment Board now owns 192,952 shares of the company’s stock valued at $22,267,000 after buying an additional 161,052 shares during the period. Cypress Wealth Advisors LLC increased its stake in Accenture PLC by 4.7% in the first quarter. Cypress Wealth Advisors LLC now owns 5,309 shares of the company’s stock worth $613,000 after buying an additional 238 shares during the period. Optimum Investment Advisors acquired a new stake in Accenture PLC during the first quarter worth $239,000. Lazard Asset Management LLC increased its stake in Accenture PLC by 380.5% in the first quarter. Lazard Asset Management LLC now owns 199,386 shares of the company’s stock worth $23,008,000 after buying an additional 157,894 shares during the period. Finally, Scotia Capital Inc. increased its stake in Accenture PLC by 29.3% in the first quarter. Scotia Capital Inc. now owns 26,296 shares of the company’s stock worth $3,035,000 after buying an additional 5,956 shares during the period. Institutional investors own 77.17% of the company’s stock.
Shares of Accenture PLC (NYSE:ACN) traded down 1.18% during midday trading on Monday, hitting $116.85. The stock had a trading volume of 1,904,916 shares. The firm has a market cap of $72.75 billion, a price-to-earnings ratio of 18.12 and a beta of 1.24. Accenture PLC has a 1-year low of $91.40 and a 1-year high of $124.96. The firm has a 50-day moving average price of $115.09 and a 200-day moving average price of $115.15.
Accenture PLC (NYSE:ACN) last released its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. The company earned $8.49 billion during the quarter. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. Accenture PLC’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. On average, equities analysts anticipate that Accenture PLC will post $5.93 EPS for the current fiscal year.
A number of analysts recently weighed in on the company. Berenberg Bank assumed coverage on Accenture PLC in a research note on Thursday. They issued a “buy” rating and a $140.00 price target on the stock. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, October 4th. Pacific Crest lifted their price target on Accenture PLC from $129.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd. Jefferies Group lifted their price target on Accenture PLC from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, October 3rd. Finally, Cantor Fitzgerald lifted their price target on Accenture PLC from $132.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, October 3rd. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $125.32.
In related news, insider Richard P. Clark sold 876 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.43, for a total transaction of $99,364.68. Following the completion of the sale, the insider now directly owns 16,396 shares in the company, valued at $1,859,798.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Pierre Nanterme sold 44,625 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $118.04, for a total value of $5,267,535.00. Following the sale, the chief executive officer now owns 162,615 shares of the company’s stock, valued at $19,195,074.60. The disclosure for this sale can be found here. 0.17% of the stock is owned by 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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