Confluence Wealth Management LLC lessened its stake in Accenture Plc (NYSE:ACN) by 19.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,080 shares of the information technology services provider’s stock after selling 2,227 shares during the quarter. Confluence Wealth Management LLC’s holdings in Accenture were worth $1,390,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Ridge Investment Management acquired a new stake in shares of Accenture during the 3rd quarter worth about $359,000. Atlanta Capital Management Co. L L C raised its position in shares of Accenture by 4.6% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 580,977 shares of the information technology services provider’s stock worth $78,472,000 after acquiring an additional 25,671 shares in the last quarter. Koch Industries Inc. raised its position in shares of Accenture by 18,227.9% during the 2nd quarter. Koch Industries Inc. now owns 329,903 shares of the information technology services provider’s stock worth $327,000 after acquiring an additional 328,103 shares in the last quarter. Lenox Wealth Management Inc. acquired a new stake in shares of Accenture during the 2nd quarter worth about $1,591,000. Finally, MU Investments Co. Ltd. acquired a new stake in shares of Accenture during the 4th quarter worth about $5,654,000. Institutional investors and hedge funds own 75.63% of the company’s stock.
Several brokerages have recently weighed in on ACN. Robert W. Baird reissued a “hold” rating and set a $162.00 target price on shares of Accenture in a research report on Friday, December 22nd. KeyCorp raised their target price on Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a research report on Saturday, December 30th. SunTrust Banks reissued a “hold” rating and set a $164.00 target price on shares of Accenture in a research report on Thursday, December 21st. Bank of America raised their target price on Accenture from $150.00 to $171.00 in a research report on Friday, December 22nd. Finally, Cowen reissued a “buy” rating and set a $166.00 target price on shares of Accenture in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $156.57.
Accenture Plc (ACN) opened at $154.95 on Tuesday. The company has a market capitalization of $97,731.16, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. Accenture Plc has a 12-month low of $114.82 and a 12-month high of $162.60.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. research analysts predict that Accenture Plc will post 6.65 earnings per share for the current fiscal year.
In other news, COO Johan Deblaere sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $154.24, for a total value of $8,483,200.00. Following the transaction, the chief operating officer now owns 112,208 shares of the company’s stock, valued at $17,306,961.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.92, for a total value of $764,600.00. Following the completion of the transaction, the insider now directly owns 46,202 shares in the company, valued at approximately $7,065,209.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,249 shares of company stock worth $17,795,548. 0.21% of the stock is currently owned by corporate insiders.
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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.
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