Camden National Bank lowered its position in Accenture PLC (NYSE:ACN) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,867 shares of the information technology services provider’s stock after selling 97 shares during the period. Accenture PLC comprises about 3.5% of Camden National Bank’s investment portfolio, making the stock its biggest holding. Camden National Bank’s holdings in Accenture PLC were worth $11,363,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Coconut Grove Bank grew its holdings in Accenture PLC by 75.7% during the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 364 shares during the period. Bellwether Investment Group LLC grew its holdings in Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after purchasing an additional 359 shares during the period. Parkside Financial Bank & Trust grew its holdings in Accenture PLC by 2.0% during the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after purchasing an additional 19 shares during the period. Opera Trading Capital bought a new stake in Accenture PLC during the first quarter valued at about $119,000. Finally, Harbour Capital Advisors LLC bought a new stake in Accenture PLC during the first quarter valued at about $122,000. 77.80% of the stock is owned by institutional investors.
In related news, COO Johan Deblaere sold 5,000 shares of Accenture PLC stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $122.99, for a total value of $614,950.00. Following the sale, the chief operating officer now directly owns 126,417 shares in the company, valued at approximately $15,548,026.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Pierre Nanterme sold 40,134 shares of Accenture PLC stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $123.02, for a total value of $4,937,284.68. Following the completion of the sale, the chief executive officer now owns 222,362 shares in the company, valued at $27,354,973.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is currently owned by insiders.
ACN has been the subject of several recent research reports. Cantor Fitzgerald reissued a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a report on Monday, May 29th. Berenberg Bank set a $140.00 price target on Accenture PLC and gave the company a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Monday, August 28th. BidaskClub lowered Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Cowen and Company reissued a “buy” rating and set a $135.00 price target on shares of Accenture PLC in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Accenture PLC currently has an average rating of “Buy” and a consensus target price of $132.59.
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Shares of Accenture PLC (NYSE ACN) opened at 135.35 on Friday. Accenture PLC has a 52-week low of $109.50 and a 52-week high of $136.95. The stock has a market capitalization of $83.64 billion, a P/E ratio of 23.97 and a beta of 1.11. The company has a 50 day moving average price of $130.42 and a 200-day moving average price of $124.76.
Accenture PLC (NYSE:ACN) last posted 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 company had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm posted $1.41 EPS. Accenture PLC’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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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