Chesley Taft & Associates LLC Trims Position in Accenture Plc (ACN)

Chesley Taft & Associates LLC cut its holdings in Accenture Plc (NYSE:ACN) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,969 shares of the information technology services provider’s stock after selling 20,370 shares during the quarter. Accenture accounts for approximately 1.6% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 14th largest position. Chesley Taft & Associates LLC’s holdings in Accenture were worth $18,825,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ACN. Flagship Harbor Advisors LLC boosted its stake in Accenture by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 2,917 shares of the information technology services provider’s stock worth $362,000 after buying an additional 12 shares during the period. AlphaMark Advisors LLC lifted its position in shares of Accenture by 0.9% during the second quarter. AlphaMark Advisors LLC now owns 2,319 shares of the information technology services provider’s stock worth $287,000 after purchasing an additional 20 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Accenture by 1.4% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,801 shares of the information technology services provider’s stock worth $223,000 after purchasing an additional 24 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of Accenture by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after purchasing an additional 60 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in shares of Accenture by 1.0% during the second quarter. Wedbush Securities Inc. now owns 6,843 shares of the information technology services provider’s stock worth $846,000 after purchasing an additional 69 shares during the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Pivotal Research lifted their price objective on Accenture from $165.00 to $180.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a report on Wednesday, December 27th. Cowen reiterated a “buy” rating and issued a $175.00 target price on shares of Accenture in a report on Friday, January 12th. SunTrust Banks reiterated a “hold” rating and issued a $164.00 target price on shares of Accenture in a report on Thursday, December 21st. Finally, Credit Suisse Group set a $165.00 price target on Accenture and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $156.57.

Accenture Plc (NYSE ACN) opened at $160.46 on Friday. Accenture Plc has a twelve month low of $112.31 and a twelve month high of $162.60. The company has a market capitalization of $102,870.00, a PE ratio of 28.45, a P/E/G ratio of 2.40 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12. The company 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 last year, the company earned $1.58 EPS. analysts forecast that Accenture Plc will post 6.64 EPS for the current year.

In other news, insider Gianfranco Casati sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $152.92, for a total transaction of $764,600.00. Following the sale, the insider now owns 46,202 shares of the company’s stock, valued at approximately $7,065,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Richard P. Clark sold 1,433 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $158.37, for a total value of $226,944.21. Following the sale, the chief accounting officer now directly owns 8,932 shares in the company, valued at approximately $1,414,560.84. The disclosure for this sale can be found here. Insiders have sold a total of 58,396 shares of company stock worth $9,019,815 in the last three months. Corporate insiders own 0.21% of the company’s stock.

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Accenture Company Profile

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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