NWQ Investment Management Company LLC reduced its position in Accenture Plc (NYSE:ACN) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,601 shares of the information technology services provider’s stock after selling 577 shares during the quarter. NWQ Investment Management Company LLC’s holdings in Accenture were worth $245,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its position in shares of Accenture by 261.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,792,124 shares of the information technology services provider’s stock worth $580,537,000 after purchasing an additional 2,743,482 shares during the period. Wells Fargo & Company MN lifted its position in shares of 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 valued at $1,068,260,000 after acquiring an additional 2,450,772 shares during the period. Capital International Investors lifted its position in shares of Accenture by 89.1% during 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 acquiring an additional 2,200,243 shares during the period. Milestone Resources Group Ltd bought a new stake in Accenture during the 4th quarter valued at $114,109,000. Finally, APG Asset Management N.V. increased its stake in Accenture by 60.8% during the 4th quarter. APG Asset Management N.V. now owns 1,941,307 shares of the information technology services provider’s stock valued at $247,497,000 after purchasing an additional 734,358 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Wedbush dropped their price target on Accenture from $180.00 to $153.50 and set an “outperform” rating for the company in a research note on Monday, April 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Accenture in a research report on Tuesday. Barclays raised their price target on Accenture from $152.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, March 23rd. Finally, Robert W. Baird lifted their price objective on Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $161.80.
Accenture stock opened at $147.38 on Friday. The stock has a market capitalization of $95,272.65, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. Accenture Plc has a one year low of $114.82 and a one year high of $165.58.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.31 billion. During the same period last year, the company earned $1.33 earnings per share. Accenture’s revenue for the quarter was up 15.2% compared to the same quarter last year. equities research analysts predict that Accenture Plc will post 6.69 EPS for the current year.
In related news, CFO David Rowland sold 3,102 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $161.21, for a total transaction of $500,073.42. Following the completion of the transaction, the chief financial officer now directly owns 25,012 shares of the company’s stock, valued at approximately $4,032,184.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Richard P. Clark sold 1,433 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $158.37, for a total value of $226,944.21. Following the transaction, the chief accounting officer now directly owns 8,932 shares of the company’s stock, valued at $1,414,560.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,012 shares of company stock worth $17,667,326. 0.21% of the stock is currently 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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