Summit Financial Group Inc. purchased a new position in Accenture Plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,480 shares of the information technology services provider’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Accenture by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after buying an additional 1,088,676 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Accenture by 3.0% during the 2nd quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after buying an additional 1,196,578 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Accenture by 2.2% during the 2nd quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after buying an additional 605,156 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Accenture by 0.8% during the 2nd quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock valued at $1,172,063,000 after buying an additional 70,740 shares during the last quarter. Finally, Independent Franchise Partners LLP boosted its stake in shares of Accenture by 3.7% during the 3rd quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after buying an additional 222,828 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.
ACN has been the subject of several research analyst reports. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 6th. Stifel Nicolaus upped their price target on Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. KeyCorp reissued a “buy” rating and set a $149.00 price target on shares of Accenture in a research report on Sunday, October 29th. Pivotal Research initiated coverage on Accenture in a research report on Wednesday, November 8th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Deutsche Bank upped their price target on Accenture to $165.00 in a research report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $155.11.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. research analysts anticipate that Accenture Plc will post 6.64 EPS for the current year.
In other Accenture news, insider Daniel T. London sold 637 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Pierre Nanterme sold 34,232 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $152.94, for a total value of $5,235,442.08. Following the completion of the sale, the chief executive officer now directly owns 262,490 shares in the company, valued at $40,145,220.60. The disclosure for this sale can be found here. Insiders sold 79,566 shares of company stock worth $11,793,814 over the last ninety days. 0.21% of the stock is owned by corporate insiders.
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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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