Accenture PLC (NYSE:ACN) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI cut its stake in Accenture PLC (NYSE:ACN) by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,778 shares of the information technology services provider’s stock after selling 20,412 shares during the period. Citizens Financial Group Inc. RI’s holdings in Accenture PLC were worth $6,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after buying an additional 1,738,262 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock valued at $1,667,243,000 after buying an additional 625,381 shares in the last quarter. WCM Investment Management CA increased its position in shares of Accenture PLC by 5.3% in the first quarter. WCM Investment Management CA now owns 4,571,949 shares of the information technology services provider’s stock valued at $548,085,000 after buying an additional 231,700 shares in the last quarter. Polen Capital Management LLC increased its position in shares of Accenture PLC by 7.9% in the first quarter. Polen Capital Management LLC now owns 4,413,852 shares of the information technology services provider’s stock valued at $529,133,000 after buying an additional 324,386 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Accenture PLC by 0.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,645,348 shares of the information technology services provider’s stock valued at $426,979,000 after buying an additional 25,957 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.

Accenture PLC (NYSE:ACN) traded down 0.12% on Friday, reaching $127.44. 1,263,534 shares of the company traded hands. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.67. The stock has a 50 day moving average of $127.52 and a 200-day moving average of $122.97. The stock has a market capitalization of $78.76 billion, a price-to-earnings ratio of 22.57 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. The company had revenue of $8.87 billion for 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 business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.

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ACN has been the subject of several research reports. BidaskClub cut shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $138.00 target price (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Cowen and Company upped their target price on shares of 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 reaffirmed a “buy” rating and set a $135.00 target price on shares of Accenture PLC in a report on Monday, May 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Accenture PLC presently has a consensus rating of “Buy” and an average price target of $130.71.

In related news, insider Richard Lumb sold 2,200 shares of the company’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 sale, the insider now directly owns 119,013 shares in the company, valued at $15,383,620.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $393,504.00. Following the sale, the general counsel now owns 18,566 shares in the company, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock worth $9,920,929 over the last quarter. 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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