Pin Oak Investment Advisors Inc. bought a new position in shares of Accenture Plc (NYSE:ACN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,418 shares of the information technology services provider’s stock, valued at approximately $217,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Farmers National Bank purchased a new stake in Accenture in the fourth quarter worth about $107,000. Virtue Capital Management LLC purchased a new stake in Accenture in the fourth quarter worth about $128,000. Aevitas Wealth Management Inc. purchased a new stake in Accenture in the fourth quarter worth about $131,000. Santori & Peters Inc. purchased a new stake in Accenture in the fourth quarter worth about $181,000. Finally, Calton & Associates Inc. purchased a new stake in Accenture in the fourth quarter worth about $209,000. Institutional investors and hedge funds own 75.57% of the company’s stock.
Accenture Plc (ACN) opened at $150.23 on Friday. The firm has a market cap of $102,934.09, a price-to-earnings ratio of 26.59, a PEG ratio of 2.43 and a beta of 1.01. Accenture Plc has a one year low of $114.82 and a one year high of $165.58.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.09. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.31 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. analysts expect that Accenture Plc will post 6.66 earnings per share for the current year.
In other news, CEO Pierre Nanterme sold 34,232 shares of Accenture stock in a transaction on Tuesday, December 26th. The shares were 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 owns 262,490 shares in the company, valued at approximately $40,145,220.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard P. Clark sold 1,433 shares of Accenture stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $158.37, for a total transaction of $226,944.21. Following the transaction, the chief accounting officer now 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 117,249 shares of company stock worth $18,106,228 in the last quarter. Corporate insiders own 0.21% of the company’s stock.
ACN has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $180.00 price objective (up from $165.00) on shares of Accenture in a report on Tuesday. Susquehanna Bancshares reiterated a “hold” rating and set a $145.00 target price on shares of Accenture in a report on Tuesday, December 26th. Pivotal Research set a $180.00 target price on shares of Accenture and gave the company a “buy” rating in a report on Thursday, December 28th. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Tuesday, November 28th. Finally, Bank of America lifted their target price on shares of Accenture from $150.00 to $171.00 in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Accenture presently has a consensus rating of “Hold” and an average price target of $159.04.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/03/23/1418-shares-in-accenture-plc-acn-purchased-by-pin-oak-investment-advisors-inc.html.
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.
Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture Plc (NYSE:ACN).
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.