Teacher Retirement System of Texas Reduces Position in Accenture PLC (ACN)

Teacher Retirement System of Texas decreased its stake in Accenture PLC (NYSE:ACN) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,702 shares of the information technology services provider’s stock after selling 68,136 shares during the period. Teacher Retirement System of Texas’ holdings in Accenture PLC were worth $25,070,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Accenture PLC by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after purchasing an additional 2,749,896 shares during the last quarter. BlackRock Inc. lifted its stake in Accenture PLC by 2,139.5% in the 1st quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after purchasing an additional 37,700,871 shares during the last quarter. State Street Corp lifted its stake in Accenture PLC by 2.7% in the 1st quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after purchasing an additional 665,860 shares during the last quarter. Wellington Management Group LLP lifted its stake in Accenture PLC by 8.8% in the 1st 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 purchasing an additional 1,738,262 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Accenture PLC by 4.7% in the 1st 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 purchasing an additional 625,381 shares during the last quarter. 77.80% of the stock is owned by institutional investors and hedge funds.

ACN has been the subject of several analyst reports. SunTrust Banks, Inc. downgraded shares of Accenture PLC from a “buy” rating to a “hold” rating and raised their price target for the company from $122.15 to $130.00 in a research note on Wednesday, May 24th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a research note on Monday, May 29th. Zacks Investment Research downgraded shares of Accenture PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $138.00 price target (up previously from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $132.33.

Accenture PLC (NYSE ACN) opened at 136.22 on Wednesday. Accenture PLC has a 52-week low of $108.83 and a 52-week high of $136.95. The company’s 50 day moving average is $129.66 and its 200-day moving average is $124.43. The company has a market capitalization of $84.18 billion, a price-to-earnings ratio of 24.12 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 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the firm posted $1.41 EPS. Accenture PLC’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current fiscal year.

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In related news, insider Julie Spellman Sweet sold 1,974 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $128.68, for a total transaction of $254,014.32. Following the sale, the insider now directly owns 14,082 shares of the company’s stock, valued at approximately $1,812,071.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $840,622.92. Following the sale, the insider now directly owns 61,714 shares in the company, valued at $7,588,970.58. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock worth $9,920,929 over the last three months. 0.21% of the stock is currently owned by insiders.

Accenture PLC 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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