Investors Sell Accenture PLC (ACN) on Strength (ACN)
Investors sold shares of Accenture PLC (NYSE:ACN) on strength during trading hours on Tuesday. $37.03 million flowed into the stock on the tick-up and $61.49 million flowed out of the stock on the tick-down, for a money net flow of $24.46 million out of the stock. Of all companies tracked, Accenture PLC had the 0th highest net out-flow for the day. Accenture PLC traded up $0.20 for the day and closed at $110.70
Several brokerages recently commented on ACN. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Monday, July 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Tuesday, July 19th. Wedbush began coverage on Accenture PLC in a research report on Thursday, September 8th. They issued an “outperform” rating and a $125.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $118.00 target price on shares of Accenture PLC in a research report on Sunday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $120.54.
The firm’s 50-day moving average is $113.25 and its 200-day moving average is $114.02. The firm has a market cap of $68.92 billion, a price-to-earnings ratio of 18.71 and a beta of 1.17.
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Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 23rd. The company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. Accenture PLC had a return on equity of 47.61% and a net margin of 11.24%. The business earned $8.43 billion during the quarter. During the same quarter in the prior year, the company earned $1.30 earnings per share. Accenture PLC’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Accenture PLC will post $5.33 earnings per share for the current fiscal year.
In related news, insider Richard Lumb sold 1,250 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $109.88, for a total transaction of $137,350.00. Following the completion of the sale, the insider now directly owns 129,013 shares in the company, valued at approximately $14,175,948.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard P. Clark sold 876 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.43, for a total value of $99,364.68. Following the sale, the insider now owns 16,396 shares of the company’s stock, valued at $1,859,798.28. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Cribstone Capital Management LLC acquired a new stake in shares of Accenture PLC during the second quarter valued at $104,000. Exane Derivatives increased its position in Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock valued at $108,000 after buying an additional 457 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock valued at $120,000 after buying an additional 971 shares in the last quarter. Tanaka Capital Management Inc. increased its position in Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock valued at $127,000 after buying an additional 850 shares in the last quarter. Finally, City Holding Co. increased its position in Accenture PLC by 8.4% in the second quarter. City Holding Co. now owns 1,221 shares of the company’s stock valued at $138,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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