Accenture PLC (ACN) Shares Sold by Monarch Capital Management Inc.

Monarch Capital Management Inc. lowered its stake in Accenture PLC (NYSE:ACN) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,850 shares of the company’s stock after selling 300 shares during the period. Accenture PLC accounts for 1.6% of Monarch Capital Management Inc.’s holdings, making the stock its 28th largest position. Monarch Capital Management Inc.’s holdings in Accenture PLC were worth $4,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Accenture PLC during the second quarter valued at about $116,516,000. Geode Capital Management LLC raised its stake in Accenture PLC by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,524,658 shares of the company’s stock valued at $636,356,000 after buying an additional 394,256 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Accenture PLC by 10.2% in the first quarter. UBS Asset Management Americas Inc. now owns 3,570,115 shares of the company’s stock valued at $411,991,000 after buying an additional 329,656 shares in the last quarter. Wellington Management Group LLP raised its stake in Accenture PLC by 1.1% in the first quarter. Wellington Management Group LLP now owns 27,433,103 shares of the company’s stock valued at $3,165,780,000 after buying an additional 292,081 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Accenture PLC during the first quarter valued at approximately $33,305,000. 77.17% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

Shares of Accenture PLC (NYSE:ACN) traded up 0.43% on Wednesday, hitting $116.82. 2,263,139 shares of the company were exchanged. The firm has a market cap of $72.73 billion, a P/E ratio of 18.11 and a beta of 1.25. The company has a 50-day moving average price of $115.21 and a 200 day moving average price of $115.17. Accenture PLC has a 52-week low of $91.40 and a 52-week high of $124.96.

Accenture PLC (NYSE:ACN) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $8.49 billion for the quarter. During the same period in the prior year, the business earned $1.15 earnings per share. Accenture PLC’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts predict that Accenture PLC will post $5.93 EPS for the current fiscal year.

Several analysts recently commented on the stock. Barclays PLC raised their price target on shares of Accenture PLC from $112.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, September 30th. Cantor Fitzgerald restated a “buy” rating and set a $132.00 price target on shares of Accenture PLC in a research report on Tuesday, September 27th. Credit Suisse Group AG lowered shares of Accenture PLC from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $120.94 to $120.00 in a research report on Friday, June 24th. Citigroup Inc. raised their price target on shares of Accenture PLC from $115.50 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, September 28th. Finally, BMO Capital Markets restated a “market perform” rating and set a $125.00 price target (up previously from $118.00) on shares of Accenture PLC in a research report on Sunday, October 2nd. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture PLC presently has a consensus rating of “Buy” and a consensus price target of $125.32.

In other news, General Counsel Chad T. Jerdee sold 4,000 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $113.35, for a total transaction of $453,400.00. Following the transaction, the general counsel now directly owns 28,755 shares in the company, valued at approximately $3,259,379.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard P. Clark sold 876 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $113.43, for a total transaction of $99,364.68. Following the transaction, the insider now owns 16,396 shares in the company, valued at $1,859,798.28. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.

5 Day Chart for NYSE:ACN

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