Dundas Partners LLP Acquires 1,134 Shares of Accenture Plc (NYSE:ACN)

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Dundas Partners LLP grew its position in Accenture Plc (NYSE:ACN) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 90,997 shares of the information technology services provider’s stock after purchasing an additional 1,134 shares during the period. Accenture comprises about 3.9% of Dundas Partners LLP’s portfolio, making the stock its 10th largest holding. Dundas Partners LLP’s holdings in Accenture were worth $16,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ACN. Mitchell Capital Management Co. increased its holdings in Accenture by 1.4% during the first quarter. Mitchell Capital Management Co. now owns 4,140 shares of the information technology services provider’s stock worth $729,000 after buying an additional 56 shares during the last quarter. Private Trust Co. NA increased its holdings in Accenture by 1.6% during the second quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock worth $672,000 after buying an additional 57 shares during the last quarter. Enterprise Bank & Trust Co increased its holdings in Accenture by 0.7% during the second quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock worth $1,807,000 after buying an additional 65 shares during the last quarter. Convergence Investment Partners LLC increased its holdings in Accenture by 4.5% during the first quarter. Convergence Investment Partners LLC now owns 1,578 shares of the information technology services provider’s stock worth $278,000 after buying an additional 68 shares during the last quarter. Finally, KC Investment Advisors LLC increased its holdings in Accenture by 3.1% during the first quarter. KC Investment Advisors LLC now owns 2,335 shares of the information technology services provider’s stock worth $411,000 after buying an additional 70 shares during the last quarter. Institutional investors own 69.57% of the company’s stock.

ACN has been the subject of a number of analyst reports. BMO Capital Markets raised 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. Argus raised 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. Wells Fargo & Co raised their price objective on shares of Accenture from $193.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Citigroup raised their price objective on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $192.38.

In other Accenture news, insider Daniel T. London sold 2,283 shares of Accenture stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $188.03, for a total transaction of $429,272.49. Following the transaction, the insider now directly owns 27,294 shares of the company’s stock, valued at $5,132,090.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $186.35, for a total transaction of $372,700.00. Following the transaction, the insider now directly owns 77,240 shares in the company, valued at $14,393,674. The disclosure for this sale can be found here. Insiders have sold 22,760 shares of company stock worth $4,353,328 over the last three months. Insiders own 0.18% of the company’s stock.

Shares of ACN opened at $192.88 on Wednesday. The company has a 50 day moving average of $191.87. The stock has a market capitalization of $128.67 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.53 and a beta of 1.04. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $197.47.

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

Accenture Company 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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