Tranquility Partners LLC Takes Position in Accenture Plc (NYSE:ACN)

Tranquility Partners LLC bought a new stake in Accenture Plc (NYSE:ACN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,327 shares of the information technology services provider’s stock, valued at approximately $245,000.

Several other hedge funds have also recently made changes to their positions in the company. Lenox Wealth Advisors LLC increased its holdings in Accenture by 297.1% during the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after buying an additional 101 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of Accenture in the first quarter valued at approximately $32,000. Next Capital Management LLC bought a new position in shares of Accenture in the second quarter valued at approximately $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Accenture by 455.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 155 shares during the period. Finally, Weaver Consulting Group bought a new position in shares of Accenture in the first quarter valued at approximately $39,000. Institutional investors own 69.88% of the company’s stock.

Shares of NYSE ACN traded down $0.90 during mid-day trading on Friday, hitting $194.62. The stock had a trading volume of 1,462,931 shares, compared to its average volume of 1,842,159. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $202.80. The business has a 50 day moving average price of $194.49 and a two-hundred day moving average price of $182.43. The firm has a market cap of $131.38 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Accenture Plc will post 7.33 EPS for the current fiscal year.

Several equities research analysts have issued reports on ACN shares. Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Deutsche Bank lifted their price target on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Co lifted their price target on shares of Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup lifted their price target on shares of Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Argus lifted their price target on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $197.25.

In other Accenture news, CEO David Rowland sold 2,255 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total transaction of $437,537.65. Following the transaction, the chief executive officer now directly owns 25,078 shares of the company’s stock, valued at approximately $4,865,884.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel T. London sold 2,283 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $188.03, for a total transaction of $429,272.49. Following the transaction, the insider now directly owns 27,294 shares in the company, valued at $5,132,090.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,760 shares of company stock worth $4,353,328. Insiders own 0.18% of the company’s stock.

Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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