Align Financial LLC Invests $35.06 Million in Accenture PLC $ACN

Align Financial LLC bought a new position in shares of Accenture PLC (NYSE:ACNFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 130,662 shares of the information technology services provider’s stock, valued at approximately $35,057,000.

Several other hedge funds have also made changes to their positions in the business. Weitz Investment Management Inc. lifted its position in Accenture by 28.8% in the third quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock valued at $39,592,000 after purchasing an additional 35,900 shares during the period. Teacher Retirement System of Texas lifted its position in Accenture by 27.7% in the fourth quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock valued at $75,752,000 after purchasing an additional 61,314 shares during the period. Sequoia Financial Advisors LLC lifted its position in Accenture by 197.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock valued at $37,960,000 after purchasing an additional 93,880 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Accenture by 36.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 557,516 shares of the information technology services provider’s stock valued at $149,582,000 after purchasing an additional 149,357 shares during the period. Finally, Vanguard Group Inc. lifted its position in Accenture by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock valued at $17,726,831,000 after purchasing an additional 854,361 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

ACN stock opened at $156.21 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $179.51 and a 200-day moving average of $219.86. Accenture PLC has a 12-month low of $155.82 and a 12-month high of $314.20. The company has a market cap of $103.95 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.57 and a beta of 1.08.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same period last year, the company posted $2.82 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Accenture PLC will post 13.83 EPS for the current fiscal year.

Key Stories Impacting Accenture

Here are the key news stories impacting Accenture this week:

Insider Buying and Selling at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACN shares. UBS Group restated a “buy” rating on shares of Accenture in a research report on Tuesday. Berenberg Bank set a $220.00 price target on shares of Accenture in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Guggenheim reduced their price target on shares of Accenture from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. Finally, Stifel Nicolaus reduced their price target on shares of Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.41.

View Our Latest Research Report on ACN

Accenture Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Featured Stories

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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