Confluence Investment Management LLC Grows Holdings in Accenture Plc (ACN)

Confluence Investment Management LLC grew its position in shares of Accenture Plc (NYSE:ACN) by 7,097.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,217 shares of the information technology services provider’s stock after purchasing an additional 112,630 shares during the period. Confluence Investment Management LLC’s holdings in Accenture were worth $17,485,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Accenture by 2.3% during the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock worth $5,994,531,000 after acquiring an additional 1,088,676 shares during the period. BlackRock Inc. increased its position in shares of Accenture by 3.0% during the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock worth $5,028,772,000 after acquiring an additional 1,196,578 shares during the period. Capital Research Global Investors increased its position in shares of Accenture by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock worth $3,525,083,000 after acquiring an additional 605,156 shares during the period. Northern Trust Corp increased its position in shares of Accenture by 0.8% during the second quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock worth $1,172,063,000 after acquiring an additional 70,740 shares during the period. Finally, Independent Franchise Partners LLP increased its position in shares of Accenture by 3.7% during the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock worth $850,044,000 after acquiring an additional 222,828 shares during the period. Institutional investors own 75.23% of the company’s stock.

Accenture Plc (NYSE:ACN) opened at $158.93 on Tuesday. The company has a market capitalization of $101,890.00, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.38 and a beta of 1.08. Accenture Plc has a twelve month low of $112.31 and a twelve month high of $159.01.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.67 by $0.12. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. Accenture’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. analysts anticipate that Accenture Plc will post 6.64 earnings per share for the current fiscal year.

In other Accenture news, insider Ellyn Shook sold 4,375 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $139.81, for a total value of $611,668.75. Following the completion of the transaction, the insider now owns 33,081 shares in the company, valued at $4,625,054.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $138.94, for a total transaction of $305,668.00. Following the completion of the transaction, the insider now owns 117,151 shares of the company’s stock, valued at approximately $16,276,959.94. The disclosure for this sale can be found here. Insiders sold 78,929 shares of company stock valued at $11,707,163 in the last 90 days. 0.21% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on ACN. Pivotal Research set a $180.00 price objective on Accenture and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Citigroup reaffirmed a “hold” rating and set a $159.00 price objective on shares of Accenture in a research report on Friday, December 22nd. SunTrust Banks reaffirmed a “hold” rating and set a $164.00 price objective on shares of Accenture in a research report on Thursday, December 21st. Bank of America upped their price objective on Accenture from $150.00 to $171.00 in a research report on Friday, December 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price objective (up previously from $151.00) on shares of Accenture in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Accenture has an average rating of “Hold” and a consensus price target of $155.11.

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About Accenture

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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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