First Republic Investment Management Inc. lowered its stake in shares of Accenture Plc (NYSE:ACN) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 634,920 shares of the information technology services provider’s stock after selling 18,726 shares during the period. First Republic Investment Management Inc.’s holdings in Accenture were worth $97,200,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of ACN. Mission Wealth Management LP increased its position in shares of Accenture by 20.9% in the fourth quarter. Mission Wealth Management LP now owns 3,302 shares of the information technology services provider’s stock worth $506,000 after acquiring an additional 570 shares in the last quarter. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Accenture in the fourth quarter worth $307,000. Edgestream Partners L.P. acquired a new stake in shares of Accenture in the fourth quarter worth $614,000. Norinchukin Bank The increased its position in shares of Accenture by 3.3% in the fourth quarter. Norinchukin Bank The now owns 105,741 shares of the information technology services provider’s stock worth $16,188,000 after acquiring an additional 3,377 shares in the last quarter. Finally, ARP Americas LP acquired a new stake in shares of Accenture in the fourth quarter worth $617,000. 74.64% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley raised shares of Accenture from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $159.00 to $140.00 in a research report on Monday, February 5th. Cowen reissued a “buy” rating and issued a $175.00 price objective on shares of Accenture in a research report on Friday, January 12th. Credit Suisse Group set a $165.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Finally, KeyCorp increased their price objective on shares of Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a research report on Saturday, December 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $156.57.
Shares of Accenture Plc (NYSE:ACN) opened at $161.44 on Wednesday. The firm has a market cap of $103,334.33, a price-to-earnings ratio of 28.57, a P/E/G ratio of 2.45 and a beta of 1.05. Accenture Plc has a fifty-two week low of $114.82 and a fifty-two week high of $163.60.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. research analysts predict that Accenture Plc will post 6.65 EPS for the current year.
In other Accenture news, CAO Richard P. Clark sold 1,433 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the completion of the transaction, the chief accounting officer now directly owns 8,932 shares of the company’s stock, valued at approximately $1,414,560.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Pierre Nanterme sold 34,232 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the transaction, the chief executive officer now directly owns 262,490 shares of the company’s stock, valued at $40,145,220.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,249 shares of company stock valued at $18,106,228. 0.21% of the stock is owned by company insiders.
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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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