State Street Corp Has $3.04 Billion Stake in Accenture PLC (ACN)

State Street Corp increased its position in Accenture PLC (NYSE:ACN) by 2.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 25,356,641 shares of the information technology services provider’s stock after buying an additional 665,860 shares during the period. State Street Corp’s holdings in Accenture PLC were worth $3,039,762,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Coconut Grove Bank boosted its position in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock worth $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. boosted its position in Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock worth $104,000 after buying an additional 11 shares during the period. Howe & Rusling Inc. boosted its position in Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock worth $109,000 after buying an additional 113 shares during the period. Bellwether Investment Group LLC boosted its position in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after buying an additional 19 shares during the period. 77.48% of the stock is owned by institutional investors.

Shares of Accenture PLC (NYSE ACN) traded down 0.2010% during midday trading on Thursday, reaching $129.3594. The company’s stock had a trading volume of 482,540 shares. The stock has a 50-day moving average price of $126.45 and a 200 day moving average price of $122.38. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.67. The stock has a market capitalization of $79.94 billion, a PE ratio of 22.9076 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the company earned $1.41 earnings per share. Accenture PLC’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Accenture PLC will post $5.90 earnings per share for the current year.

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A number of research firms have recently weighed in on ACN. Berenberg Bank set a $140.00 price target on Accenture PLC and gave the stock a “buy” rating in a report on Saturday, June 24th. Cowen and Company reissued a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a report on Friday, July 28th. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price target (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 price target (up from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Two 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 has an average rating of “Buy” and a consensus price target of $130.71.

In other Accenture PLC news, insider Julie Spellman Sweet sold 1,974 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $128.68, for a total transaction of $254,014.32. Following the transaction, the insider now directly owns 14,082 shares in the company, valued at $1,812,071.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the firm’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 $393,504.00. Following the transaction, the general counsel now owns 18,566 shares in the company, valued at $2,283,061.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,617 shares of company stock valued at $9,636,557. 0.21% of the stock is owned by corporate insiders.

About Accenture PLC

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

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