Accenture Plc (NYSE:ACN) Shares Sold by RMB Capital Management LLC

RMB Capital Management LLC lessened its position in shares of Accenture Plc (NYSE:ACN) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,441 shares of the information technology services provider’s stock after selling 1,657 shares during the quarter. RMB Capital Management LLC’s holdings in Accenture were worth $15,232,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Highland Private Wealth Management raised its stake in Accenture by 4.8% in the 2nd quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock valued at $268,000 after purchasing an additional 66 shares during the last quarter. Brandywine Oak Private Wealth LLC acquired a new position in Accenture in the 2nd quarter valued at about $207,000. Private Trust Co. NA raised its stake in Accenture by 1.6% in the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after purchasing an additional 57 shares during the last quarter. GSA Capital Partners LLP raised its stake in Accenture by 17.3% in the 2nd quarter. GSA Capital Partners LLP now owns 4,689 shares of the information technology services provider’s stock valued at $866,000 after purchasing an additional 690 shares during the last quarter. Finally, Monetary Management Group Inc. raised its stake in Accenture by 543.3% in the 1st quarter. Monetary Management Group Inc. now owns 9,650 shares of the information technology services provider’s stock valued at $1,699,000 after purchasing an additional 8,150 shares during the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.

ACN traded down $1.00 during midday trading on Friday, hitting $194.52. The company’s stock had a trading volume of 59,052 shares, compared to its average volume of 1,826,990. The firm has a market cap of $127.44 billion, a P/E ratio of 28.83, a PEG ratio of 2.31 and a beta of 1.04. The firm has a 50-day moving average price of $194.48 and a two-hundred day moving average price of $182.26. Accenture Plc has a 52-week low of $132.63 and a 52-week high of $202.80.

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

In other news, Director Paula A. Price sold 645 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $194.24, for a total transaction of $125,284.80. Following the completion of the sale, the director now owns 6,716 shares in the company, valued at approximately $1,304,515.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $186.35, for a total value of $372,700.00. Following the sale, the insider now owns 77,240 shares of the company’s stock, valued at approximately $14,393,674. The disclosure for this sale can be found here. Insiders have sold a total of 22,760 shares of company stock valued at $4,353,328 in the last quarter. Company insiders own 0.18% of the company’s stock.

Several research analysts recently weighed in on the stock. Deutsche Bank boosted their target price on shares of Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Bank of America boosted their target price on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. BMO Capital Markets boosted their target price on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a research note on Friday, June 28th. Robert W. Baird set a $212.00 target price on shares of Accenture and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Co boosted their target price on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $197.25.

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.

Further Reading: What is the formula for calculating total return?

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture Plc (NYSE:ACN).

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.