BB&T Corp Decreases Stake in Accenture PLC (NYSE:ACN)

BB&T Corp cut its position in shares of Accenture PLC (NYSE:ACN) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,169 shares of the information technology services provider’s stock after selling 8,629 shares during the period. Accenture PLC accounts for 0.7% of BB&T Corp’s investment portfolio, making the stock its 23rd largest position. BB&T Corp’s holdings in Accenture PLC were worth $35,146,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ACN. Whittier Trust Co. of Nevada Inc. raised its position in shares of Accenture PLC by 1.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,588 shares of the information technology services provider’s stock worth $815,000 after buying an additional 75 shares in the last quarter. US Bancorp DE raised its position in shares of Accenture PLC by 4.8% in the second quarter. US Bancorp DE now owns 1,386,150 shares of the information technology services provider’s stock worth $171,439,000 after buying an additional 62,936 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Accenture PLC during the second quarter worth $656,000. Round Table Services LLC raised its position in shares of Accenture PLC by 16.8% in the second quarter. Round Table Services LLC now owns 2,647 shares of the information technology services provider’s stock worth $327,000 after buying an additional 381 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of Accenture PLC by 10.0% in the second quarter. Aperio Group LLC now owns 466,380 shares of the information technology services provider’s stock worth $57,682,000 after buying an additional 42,227 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

Shares of Accenture PLC (NYSE:ACN) traded down 0.12% on Friday, hitting $127.44. The company’s stock had a trading volume of 1,263,534 shares. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 22.57 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.67. The stock’s 50 day moving average is $127.52 and its 200-day moving average is $122.97.

Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The company 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 company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. On average, equities research analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current year.

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ACN has been the topic of a number of research reports. SunTrust Banks, Inc. lowered Accenture PLC from a “buy” rating to a “hold” rating and increased their price objective for the company from $122.15 to $130.00 in a report on Wednesday, May 24th. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a report on Monday, May 29th. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $130.71.

In related news, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the completion of the sale, the insider now owns 119,942 shares of the company’s stock, valued at approximately $15,293,804.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of Accenture PLC stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $840,622.92. Following the completion of the sale, the insider now directly owns 61,714 shares of the company’s stock, valued at approximately $7,588,970.58. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock valued at $9,920,929 in the last three months. Company insiders own 0.21% of the company’s stock.

Accenture PLC Company Profile

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.

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

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