Laurion Capital Management LP purchased a new stake in shares of Accenture Plc (NYSE:ACN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,660 shares of the information technology services provider’s stock, valued at approximately $599,000.
A number of other large investors have also made changes to their positions in ACN. WP Advisors LLC purchased a new position in Accenture during the 2nd quarter valued at about $106,000. BDO Wealth Advisors LLC increased its holdings in Accenture by 105.3% during the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock valued at $113,000 after purchasing an additional 379 shares during the period. MUFG Securities EMEA plc purchased a new position in Accenture during the 2nd quarter valued at about $118,000. Well Done LLC purchased a new position in Accenture during the 1st quarter valued at about $161,000. Finally, Charter Trust Co. purchased a new position in shares of Accenture during the 2nd quarter worth approximately $204,000. Institutional investors own 70.50% of the company’s stock.
A number of research analysts have weighed in on ACN shares. Zacks Investment Research downgraded Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Stifel Nicolaus upped their target price on Accenture from $170.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Credit Suisse Group upped their target price on Accenture from $151.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, June 29th. BMO Capital Markets upped their target price on Accenture to $170.00 and gave the stock a “market perform” rating in a report on Friday, June 29th. Finally, Pivotal Research set a $180.00 target price on Accenture and gave the stock a “buy” rating in a report on Monday, June 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $162.11.
In related news, General Counsel Chad T. Jerdee sold 1,141 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $162.30, for a total value of $185,184.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ellyn Shook sold 4,375 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $168.02, for a total value of $735,087.50. Following the completion of the transaction, the insider now directly owns 31,707 shares in the company, valued at $5,327,410.14. The disclosure for this sale can be found here. Insiders sold a total of 54,357 shares of company stock worth $8,865,112 over the last ninety days. 0.21% of the stock is currently owned by insiders.
Shares of ACN opened at $171.64 on Monday. Accenture Plc has a 52 week low of $132.27 and a 52 week high of $172.51. The company has a market capitalization of $114.93 billion, a PE ratio of 29.04, a P/E/G ratio of 2.29 and a beta of 0.97.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.07. The business had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.04 billion. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. research analysts predict that Accenture Plc will post 6.71 earnings per share for the current year.
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.
Read More: How are Outstanding Shares Different from Authorized Shares?
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.