Reynders McVeigh Capital Management LLC Sells 310 Shares of Accenture Plc (NYSE:ACN)

Reynders McVeigh Capital Management LLC lessened its position in Accenture Plc (NYSE:ACN) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,010 shares of the information technology services provider’s stock after selling 310 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Accenture were worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Lenox Wealth Advisors LLC boosted its stake in shares of Accenture by 297.1% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of Accenture during the 1st quarter valued at about $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Accenture by 455.9% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 155 shares during the period. Next Capital Management LLC purchased a new position in Accenture during the 2nd quarter valued at about $34,000. Finally, Weaver Consulting Group purchased a new position in Accenture during the 1st quarter valued at about $39,000. 69.77% of the stock is currently owned by institutional investors and hedge funds.

Accenture stock traded down $3.53 during trading hours on Friday, hitting $192.81. The stock had a trading volume of 2,180,759 shares, compared to its average volume of 1,779,840. The stock has a market capitalization of $131.93 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $197.93. The stock’s 50-day moving average price is $193.30 and its 200-day moving average price is $178.57.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. The business had revenue of $11.10 billion during 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 earnings per share. As a group, equities analysts forecast that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

In other Accenture news, General Counsel Chad T. Jerdee sold 3,247 shares of Accenture stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $186.34, for a total value of $605,045.98. Following the completion of the transaction, the general counsel now directly owns 13,271 shares of the company’s stock, valued at $2,472,918.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $186.35, for a total transaction of $372,700.00. Following the completion of the transaction, the insider now directly owns 77,240 shares of the company’s stock, valued at $14,393,674. The disclosure for this sale can be found here. Insiders sold 22,760 shares of company stock valued at $4,353,328 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

A number of brokerages recently issued reports on ACN. UBS Group set a $190.00 price target on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Wells Fargo & Co lifted their price target 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. Deutsche Bank lifted their price target on shares of Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Bank of America lifted their price target 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. Finally, Argus lifted their price target on shares of Accenture to $220.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $192.38.

About Accenture

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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