Nippon Life Insurance Co. lessened its holdings in Accenture PLC (NYSE:ACN) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,643 shares of the information technology services provider’s stock after selling 331 shares during the quarter. Nippon Life Insurance Co.’s holdings in Accenture PLC were worth $3,419,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ACN. Waldron LP boosted its stake in shares of Accenture PLC by 93.3% in the 1st quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after purchasing an additional 2,756 shares during the last quarter. Coconut Grove Bank boosted its stake in shares of Accenture PLC by 75.7% in the 1st 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 last quarter. Quadrant Capital Management LLC boosted its stake in shares of Accenture PLC by 0.5% in the 1st quarter. Quadrant Capital Management LLC now owns 25,042 shares of the information technology services provider’s stock valued at $3,002,000 after purchasing an additional 125 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Accenture PLC in the 1st quarter valued at about $1,780,000. Finally, Willingdon Wealth Management boosted its stake in shares of Accenture PLC by 1.0% in the 1st quarter. Willingdon Wealth Management now owns 7,894 shares of the information technology services provider’s stock valued at $946,000 after purchasing an additional 79 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.
ACN has been the topic of several recent research reports. Zacks Investment Research lowered shares of Accenture PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a research note on Friday, June 16th. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Cowen and Company lifted their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $132.59.
Shares of Accenture PLC (NYSE:ACN) opened at 136.94 on Tuesday. Accenture PLC has a 12-month low of $109.50 and a 12-month high of $137.35. The stock has a 50 day moving average of $130.66 and a 200-day moving average of $124.88. The firm has a market capitalization of $84.63 billion, a P/E ratio of 24.25 and a beta of 1.11.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.52. The firm had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. On average, equities research analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.
In related news, insider Gianfranco Casati sold 6,836 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total value of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares in the company, valued at approximately $7,588,970.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $127.51, for a total value of $280,522.00. Following the completion of the transaction, the insider now owns 119,942 shares in the company, valued at $15,293,804.42. 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 owned by company insiders.
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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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