Cornerstone Capital Management Holdings LLC. lessened its holdings in Accenture Plc (NYSE:ACN) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 605,155 shares of the information technology services provider’s stock after selling 8,715 shares during the quarter. Accenture accounts for about 0.6% of Cornerstone Capital Management Holdings LLC.’s holdings, making the stock its 21st biggest position. Cornerstone Capital Management Holdings LLC. owned approximately 0.10% of Accenture worth $92,641,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in Accenture by 54.1% during the 4th quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock worth $1,068,260,000 after purchasing an additional 2,450,772 shares during the period. WCM Investment Management CA lifted its holdings in Accenture by 5.9% in the 4th quarter. WCM Investment Management CA now owns 5,280,182 shares of the information technology services provider’s stock worth $808,343,000 after buying an additional 291,858 shares in the last quarter. Polen Capital Management LLC raised its stake in shares of Accenture by 1.4% in the 4th quarter. Polen Capital Management LLC now owns 4,940,069 shares of the information technology services provider’s stock valued at $756,275,000 after purchasing an additional 67,052 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Accenture by 2.9% in the 4th quarter. Franklin Resources Inc. now owns 4,919,754 shares of the information technology services provider’s stock valued at $753,166,000 after purchasing an additional 137,044 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Accenture by 89.1% in the 3rd quarter. Capital International Investors now owns 4,670,977 shares of the information technology services provider’s stock valued at $630,909,000 after purchasing an additional 2,200,243 shares in the last quarter. Hedge funds and other institutional investors own 75.57% of the company’s stock.
Accenture Plc (NYSE:ACN) opened at $160.62 on Tuesday. Accenture Plc has a 1-year low of $114.82 and a 1-year high of $165.58. The stock has a market cap of $102,209.88, a PE ratio of 28.43, a P/E/G ratio of 2.42 and a beta of 1.01.
Accenture (NYSE:ACN) last issued 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 during the quarter, compared to analysts’ expectations of $9.25 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. Accenture’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. equities analysts anticipate that Accenture Plc will post 6.65 EPS for the current year.
Several equities research analysts recently weighed in on ACN shares. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Tuesday, November 28th. Deutsche Bank upped their target price on shares of Accenture to $165.00 in a research report on Monday, December 11th. Pivotal Research reiterated a “buy” rating and issued a $180.00 price objective on shares of Accenture in a report on Wednesday, January 10th. Morgan Stanley upgraded shares of Accenture from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $159.00 to $140.00 in a report on Monday, February 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price objective (up from $151.00) on shares of Accenture in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. Accenture presently has a consensus rating of “Hold” and an average price target of $158.91.
In other Accenture news, CAO Richard P. Clark sold 1,433 shares of Accenture stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total value of $226,944.21. Following the transaction, the chief accounting officer now owns 8,932 shares of the company’s stock, valued at $1,414,560.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $155.34, for a total transaction of $310,680.00. Following the completion of the transaction, the insider now directly owns 121,041 shares in the company, valued at approximately $18,802,508.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,249 shares of company stock valued at $18,106,228. Corporate insiders own 0.21% of the company’s stock.
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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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