Accenture Plc (ACN) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Accenture Plc (NYSE:ACN) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,793 shares of the information technology services provider’s stock after purchasing an additional 8,660 shares during the period. Envestnet Asset Management Inc.’s holdings in Accenture were worth $40,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ACN. Pin Oak Investment Advisors Inc. bought a new stake in shares of Accenture in the 4th quarter valued at about $217,000. Salem Investment Counselors Inc. lifted its stake in shares of Accenture by 1.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 46,585 shares of the information technology services provider’s stock valued at $7,132,000 after acquiring an additional 595 shares during the last quarter. HM Payson & Co. lifted its stake in shares of Accenture by 1.2% in the 4th quarter. HM Payson & Co. now owns 232,753 shares of the information technology services provider’s stock valued at $35,633,000 after acquiring an additional 2,682 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in shares of Accenture by 2.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 26,162 shares of the information technology services provider’s stock valued at $4,004,000 after acquiring an additional 513 shares during the last quarter. Finally, Slow Capital Inc. bought a new stake in shares of Accenture in the 4th quarter valued at about $760,000. 75.57% of the stock is owned by hedge funds and other institutional investors.

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ACN stock opened at $147.35 on Friday. Accenture Plc has a twelve month low of $114.82 and a twelve month high of $165.58. The firm has a market capitalization of $95,437.81, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.31 billion. During the same quarter in the prior year, the business earned $1.33 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. analysts expect that Accenture Plc will post 6.66 earnings per share for the current year.

ACN has been the subject of a number of recent research reports. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Tuesday, November 28th. Deutsche Bank boosted their price target on Accenture to $165.00 in a report on Monday, December 11th. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $159.00 to $140.00 in a report on Monday, February 5th. Pivotal Research restated a “buy” rating and set a $180.00 price target on shares of Accenture in a report on Wednesday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price target (up previously from $151.00) on shares of Accenture in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Accenture presently has an average rating of “Hold” and an average target price of $159.91.

In other Accenture news, CFO David Rowland sold 3,102 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $161.21, for a total transaction of $500,073.42. Following the transaction, the chief financial officer now owns 25,012 shares in the company, valued at approximately $4,032,184.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Johan Deblaere sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $154.24, for a total value of $8,483,200.00. Following the transaction, the chief operating officer now owns 112,208 shares in the company, valued at approximately $17,306,961.92. The disclosure for this sale can be found here. Insiders have sold a total of 117,249 shares of company stock worth $18,106,228 in the last quarter. Company insiders own 0.21% of the company’s stock.

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Accenture 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 (NYSE:ACN)

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