Accenture PLC (NYSE:ACN) Stake Held by New England Asset Management Inc.

New England Asset Management Inc. maintained its position in Accenture PLC (NYSE:ACN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,755 shares of the information technology services provider’s stock at the end of the first quarter. New England Asset Management Inc.’s holdings in Accenture PLC were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC raised its position in Accenture PLC by 0.5% in the first quarter. Ropes Wealth Advisors LLC now owns 1,412 shares of the information technology services provider’s stock valued at $169,000 after buying an additional 7 shares during the period. Farmers & Merchants Investments Inc. raised its position in Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 11 shares during the period. Blue Fin Capital Inc. raised its position in Accenture PLC by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 4,400 shares of the information technology services provider’s stock valued at $527,000 after buying an additional 12 shares during the period. Glenview Trust Co raised its position in Accenture PLC by 0.3% in the first quarter. Glenview Trust Co now owns 4,935 shares of the information technology services provider’s stock valued at $591,000 after buying an additional 15 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 19 shares during the period. 77.48% of the stock is currently owned by institutional investors.

Accenture PLC (NYSE:ACN) traded up 0.05% during trading on Friday, reaching $128.30. The company had a trading volume of 349,850 shares. The stock has a market cap of $79.29 billion, a P/E ratio of 22.72 and a beta of 1.11. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67. The firm has a 50-day moving average price of $126.48 and a 200 day moving average price of $122.42.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. Equities research analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.

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Several research firms have commented on ACN. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Cowen and Company reissued a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub lowered Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Monday, May 29th. Finally, SunTrust Banks, Inc. lowered Accenture PLC from a “buy” rating to a “hold” rating and raised their price objective for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $130.71.

In related news, CEO Pierre Nanterme sold 40,134 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $123.02, for a total value of $4,937,284.68. Following the sale, the chief executive officer now owns 222,362 shares of the company’s stock, valued at $27,354,973.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.26, for a total transaction of $284,372.00. Following the completion of the sale, the insider now directly owns 119,013 shares in the company, valued at approximately $15,383,620.38. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 in the last ninety days. 0.21% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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