Covington Capital Management grew its holdings in Accenture Plc (NYSE:ACN) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,059 shares of the information technology services provider’s stock after buying an additional 1,042 shares during the quarter. Accenture comprises 1.2% of Covington Capital Management’s investment portfolio, making the stock its 19th biggest holding. Covington Capital Management’s holdings in Accenture were worth $19,451,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC lifted its holdings in shares of Accenture by 104.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 372 shares during the period. Virtue Capital Management LLC acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $128,000. Aevitas Wealth Management Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $131,000. Santori & Peters Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $181,000. Finally, Calton & Associates Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $209,000. 75.58% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on ACN. Evercore ISI lifted their price objective on Accenture from $148.00 to $162.00 and gave the stock a “reduce” rating in a report on Thursday, November 16th. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Tuesday, November 28th. Robert W. Baird reaffirmed a “hold” rating and set a $155.00 price objective on shares of Accenture in a report on Thursday, December 7th. Deutsche Bank lifted their price objective on Accenture to $165.00 in a report on Monday, December 11th. Finally, Cowen reaffirmed a “buy” rating and set a $165.00 price objective on shares of Accenture in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Accenture presently has a consensus rating of “Hold” and a consensus target price of $156.57.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. research analysts forecast that Accenture Plc will post 6.65 earnings per share for the current fiscal year.
In other news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $155.34, for a total value of $310,680.00. Following the completion of the transaction, the insider now directly owns 121,041 shares of the company’s stock, valued at $18,802,508.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Johan Deblaere sold 55,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $154.24, for a total value of $8,483,200.00. Following the completion of the transaction, the chief operating officer now directly owns 112,208 shares of the company’s stock, valued at $17,306,961.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,249 shares of company stock valued at $18,106,228. Insiders own 0.21% of the company’s stock.
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.
Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture Plc (NYSE:ACN).
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.