American Century Companies Inc. raised its holdings in shares of Accenture Plc (NYSE:ACN) by 46.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,546 shares of the information technology services provider’s stock after purchasing an additional 13,798 shares during the period. American Century Companies Inc.’s holdings in Accenture were worth $6,684,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG raised its position in Accenture by 34.3% during the 4th quarter. Deutsche Bank AG now owns 1,453,595 shares of the information technology services provider’s stock valued at $222,522,000 after purchasing an additional 370,895 shares during the last quarter. Wealthfront Inc. raised its position in Accenture by 9.6% during the 4th quarter. Wealthfront Inc. now owns 23,247 shares of the information technology services provider’s stock valued at $3,559,000 after purchasing an additional 2,043 shares during the last quarter. Lazard Asset Management LLC raised its position in Accenture by 2.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,338,133 shares of the information technology services provider’s stock valued at $664,123,000 after purchasing an additional 109,935 shares during the last quarter. Ironvine Capital Partners LLC bought a new position in Accenture during the 4th quarter valued at approximately $2,040,000. Finally, Brookstone Capital Management raised its position in Accenture by 25.3% during the 4th quarter. Brookstone Capital Management now owns 3,521 shares of the information technology services provider’s stock valued at $539,000 after purchasing an additional 711 shares during the last quarter. 73.99% of the stock is owned by institutional investors and hedge funds.
Accenture opened at $155.33 on Wednesday, Marketbeat.com reports. The company has a market capitalization of $98.67 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.32 and a beta of 1.03. Accenture Plc has a twelve month low of $119.10 and a twelve month high of $165.58.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.31 billion. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 EPS. analysts forecast that Accenture Plc will post 6.69 earnings per share for the current fiscal year.
In related news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total value of $312,200.00. Following the sale, the insider now owns 120,025 shares in the company, valued at approximately $18,735,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jean-Marc Ollagnier sold 1,637 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $150.87, for a total value of $246,974.19. Following the completion of the sale, the insider now owns 186,112 shares in the company, valued at approximately $28,078,717.44. The disclosure for this sale can be found here. Insiders sold a total of 53,828 shares of company stock worth $8,145,630 in the last 90 days. 0.21% of the stock is currently owned by company insiders.
ACN has been the topic of a number of research analyst reports. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $159.00 to $140.00 in a report on Monday, February 5th. Pivotal Research set a $180.00 target price on Accenture and gave the stock a “buy” rating in a report on Tuesday, February 20th. KeyCorp upped their target price on Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a report on Monday, March 19th. Wedbush reiterated an “outperform” rating and set a $180.00 target price (up previously from $165.00) on shares of Accenture in a report on Tuesday, March 20th. Finally, Robert W. Baird upped their target price on Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, March 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Accenture presently has an average rating of “Buy” and an average price target of $161.37.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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