Accenture Plc (ACN) Stake Lowered by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in Accenture Plc (NYSE:ACN) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,886 shares of the information technology services provider’s stock after selling 700 shares during the quarter. Bridges Investment Management Inc.’s holdings in Accenture were worth $7,507,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ACN. BlackRock Inc. increased its stake in Accenture by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock worth $7,063,106,000 after purchasing an additional 826,900 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Accenture by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,404,851 shares of the information technology services provider’s stock worth $1,702,132,000 after purchasing an additional 153,734 shares in the last quarter. WCM Investment Management CA increased its stake in Accenture by 4.2% during the 1st quarter. WCM Investment Management CA now owns 5,503,799 shares of the information technology services provider’s stock worth $844,833,000 after purchasing an additional 223,617 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Accenture by 14,894.9% during the 1st quarter. Summit Trail Advisors LLC now owns 5,129,307 shares of the information technology services provider’s stock worth $5,129,000 after purchasing an additional 5,095,100 shares in the last quarter. Finally, Polen Capital Management LLC increased its stake in Accenture by 1.5% during the 2nd quarter. Polen Capital Management LLC now owns 5,124,412 shares of the information technology services provider’s stock worth $838,303,000 after purchasing an additional 75,613 shares in the last quarter. 70.50% of the stock is owned by institutional investors.

A number of research firms recently issued reports on ACN. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research note on Tuesday, May 22nd. Pivotal Research set a $180.00 target price on Accenture and gave the stock a “buy” rating in a research note on Friday, June 29th. Susquehanna Bancshares raised Accenture from a “neutral” rating to a “positive” rating and increased their target price for the stock from $165.00 to $190.00 in a research note on Tuesday, June 19th. Deutsche Bank increased their target price on Accenture from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. Finally, Cantor Fitzgerald increased their target price on Accenture from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, June 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Accenture presently has an average rating of “Hold” and an average price target of $162.11.

NYSE:ACN opened at $172.07 on Friday. Accenture Plc has a twelve month low of $132.27 and a twelve month high of $172.51. The company has a market cap of $115.16 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.29 and a beta of 0.97.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.07. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The firm had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.04 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The business’s revenue was up 16.3% on a year-over-year basis. sell-side analysts expect that Accenture Plc will post 6.71 earnings per share for the current year.

In other news, CEO Pierre Nanterme sold 32,376 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $162.39, for a total value of $5,257,538.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Johan Deblaere sold 5,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.36, for a total value of $811,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 54,357 shares of company stock valued at $8,865,112. 0.21% of the stock is currently owned by insiders.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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