Loomis Sayles & Co. L P reduced its stake in shares of Accenture PLC (NYSE:ACN) by 17.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,124 shares of the information technology services provider’s stock after selling 91,257 shares during the period. Loomis Sayles & Co. L P’s holdings in Accenture PLC were worth $51,204,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in ACN. Koch Industries Inc. bought a new position in shares of Accenture PLC during the first quarter valued at about $216,000. Fiduciary Management Inc. WI boosted its position in shares of Accenture PLC by 3.3% in the first quarter. Fiduciary Management Inc. WI now owns 7,031,988 shares of the information technology services provider’s stock valued at $842,995,000 after buying an additional 226,976 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Accenture PLC by 6.7% in the first quarter. Thrivent Financial For Lutherans now owns 22,990 shares of the information technology services provider’s stock valued at $2,756,000 after buying an additional 1,450 shares during the last quarter. Financial Counselors Inc. boosted its stake in Accenture PLC by 22.9% in the first quarter. Financial Counselors Inc. now owns 3,973 shares of the information technology services provider’s stock valued at $476,000 after buying an additional 739 shares during the last quarter. Finally, Ngam Advisors L.P. boosted its stake in Accenture PLC by 3.8% in the first quarter. Ngam Advisors L.P. now owns 417,218 shares of the information technology services provider’s stock valued at $50,016,000 after buying an additional 15,220 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.
Accenture PLC (ACN) traded down 0.12% during midday trading on Friday, hitting $127.44. The stock had a trading volume of 1,263,534 shares. The stock has a market cap of $78.76 billion, a P/E ratio of 22.57 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 company’s 50-day moving average price is $127.52 and its 200 day moving average price is $122.97.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data 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 business had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. On average, equities research analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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ACN has been the subject of several recent analyst reports. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 target price (up previously from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Cowen and Company boosted their target price on Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a report on Monday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $130.71.
In other Accenture PLC news, CEO Pierre Nanterme sold 40,134 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $27,354,973.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction that occurred on 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 owns 119,013 shares in the company, valued at approximately $15,383,620.38. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock worth $9,920,929 over the last three months. 0.21% of the stock is currently owned by 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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