IBM Retirement Fund reduced its stake in Accenture Plc (NYSE:ACN) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,789 shares of the information technology services provider’s stock after selling 775 shares during the period. IBM Retirement Fund’s holdings in Accenture were worth $1,521,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ACN. Focused Wealth Management Inc increased its holdings in Accenture by 100.0% in the 4th quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Accenture in the 4th quarter worth $42,000. Hanson McClain Inc. grew its stake in shares of Accenture by 28.4% in the 4th quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock worth $48,000 after buying an additional 75 shares in the last quarter. WealthTrust Arizona LLC grew its stake in shares of Accenture by 25.1% in the 4th quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock worth $51,000 after buying an additional 72 shares in the last quarter. Finally, We Are One Seven LLC purchased a new position in shares of Accenture in the 4th quarter worth $56,000. Institutional investors own 70.14% of the company’s stock.
In related news, insider Ellyn Shook sold 1,172 shares of Accenture stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $155.00, for a total transaction of $181,660.00. Following the completion of the transaction, the insider now directly owns 36,337 shares of the company’s stock, valued at approximately $5,632,235. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $155.88, for a total transaction of $311,760.00. Following the transaction, the insider now directly owns 131,024 shares of the company’s stock, valued at $20,424,021.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,033 shares of company stock valued at $8,466,177. 0.18% of the stock is owned by corporate insiders.
ACN stock opened at $166.39 on Friday. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $175.64. The stock has a market cap of $110.52 billion, a P/E ratio of 24.69, a PEG ratio of 2.20 and a beta of 1.11.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Accenture had a net margin of 9.99% and a return on equity of 40.31%. The firm had revenue of $10.61 billion during the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the previous year, the company earned $1.79 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts predict that Accenture Plc will post 7.2 earnings per share for the current year.
A number of equities analysts have commented on ACN shares. Morgan Stanley set a $178.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research note on Friday, December 21st. KeyCorp reissued a “buy” rating and issued a $173.00 price objective on shares of Accenture in a research note on Friday, December 21st. Wells Fargo & Co set a $165.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research note on Thursday, December 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $193.00 price objective on shares of Accenture in a research note on Thursday, December 13th. Finally, Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research note on Monday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. Accenture currently has an average rating of “Buy” and an average target price of $173.84.
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Accenture Company 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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