Accenture PLC (NYSE:ACN) Position Increased by Huntington National Bank

Huntington National Bank boosted its stake in Accenture PLC (NYSE:ACN) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,205 shares of the information technology services provider’s stock after buying an additional 8,938 shares during the period. Huntington National Bank’s holdings in Accenture PLC were worth $30,080,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Coconut Grove Bank increased its position in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. increased 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. Howe & Rusling Inc. increased its position in Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 113 shares during the period. Bellwether Investment Group LLC increased its position in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares during the period. Finally, Parkside Financial Bank & Trust increased 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. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accenture PLC (NYSE ACN) traded down 0.12% during mid-day trading on Friday, hitting $127.44. 1,263,534 shares of the stock were exchanged. The firm has a 50-day moving average price of $127.52 and a 200 day moving average price of $122.97. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67. The company has a market capitalization of $78.76 billion, a PE ratio of 22.57 and a beta of 1.11.

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

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A number of research analysts recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. SunTrust Banks, Inc. downgraded shares of Accenture PLC from a “buy” rating to a “hold” rating and boosted their price objective for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 price objective on shares of Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $130.71.

In other news, General Counsel Chad T. Jerdee sold 3,200 shares of Accenture PLC stock in a transaction 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 completion of the sale, the general counsel now owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Johan Deblaere sold 5,000 shares of Accenture PLC stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.99, for a total value of $614,950.00. Following the sale, the chief operating officer now directly owns 126,417 shares of the company’s stock, valued at approximately $15,548,026.83. 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 ninety days. Insiders own 0.21% of the company’s stock.

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.

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

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