Hartford Investment Management Co. Has $17.56 Million Stake in Accenture Plc (NYSE:ACN)

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Hartford Investment Management Co. increased its holdings in Accenture Plc (NYSE:ACN) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,015 shares of the information technology services provider’s stock after buying an additional 5,262 shares during the period. Hartford Investment Management Co.’s holdings in Accenture were worth $17,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Squar Milner Financial Services LLC raised its position in shares of Accenture by 25.2% in the second quarter. Squar Milner Financial Services LLC now owns 2,391 shares of the information technology services provider’s stock valued at $442,000 after buying an additional 481 shares in the last quarter. Claro Advisors LLC raised its position in Accenture by 7.9% during the second quarter. Claro Advisors LLC now owns 8,917 shares of the information technology services provider’s stock valued at $1,648,000 after purchasing an additional 654 shares in the last quarter. Zeke Capital Advisors LLC raised its position in Accenture by 0.3% during the second quarter. Zeke Capital Advisors LLC now owns 26,283 shares of the information technology services provider’s stock valued at $4,856,000 after purchasing an additional 78 shares in the last quarter. Campbell Newman Asset Management Inc. raised its position in Accenture by 5.4% during the second quarter. Campbell Newman Asset Management Inc. now owns 88,807 shares of the information technology services provider’s stock valued at $16,409,000 after purchasing an additional 4,518 shares in the last quarter. Finally, M&R Capital Management Inc. raised its position in Accenture by 5.5% during the second quarter. M&R Capital Management Inc. now owns 52,309 shares of the information technology services provider’s stock valued at $9,642,000 after purchasing an additional 2,750 shares in the last quarter. Institutional investors own 69.38% of the company’s stock.

ACN has been the subject of several research analyst reports. UBS Group set a $190.00 price objective on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Credit Suisse Group set a $180.00 price objective on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Bank of America boosted their price objective on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. BMO Capital Markets boosted their price objective on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a research report on Friday, June 28th. Finally, Argus boosted their price objective on shares of Accenture to $220.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $192.38.

In other Accenture news, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total transaction of $970,000.00. Following the sale, the insider now owns 36,713 shares of the company’s stock, valued at $7,122,322. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $196.95, for a total transaction of $393,900.00. Following the sale, the insider now directly owns 73,548 shares in the company, valued at approximately $14,485,278.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,147 shares of company stock worth $6,597,288. Insiders own 0.18% of the company’s stock.

NYSE ACN opened at $193.01 on Monday. The business’s fifty day moving average is $190.60. The company has a market capitalization of $129.70 billion, a PE ratio of 28.64, a PEG ratio of 2.55 and a beta of 1.04. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $197.47.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. As a group, research analysts forecast that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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