Punch & Associates Investment Management Inc. Has $6.61 Million Position in Accenture Plc (NYSE:ACN)

Punch & Associates Investment Management Inc. boosted its position in shares of Accenture Plc (NYSE:ACN) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 37,535 shares of the information technology services provider’s stock after acquiring an additional 815 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Accenture were worth $6,607,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc grew its holdings in Accenture by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock valued at $9,064,818,000 after purchasing an additional 770,904 shares during the last quarter. BlackRock Inc. boosted its position in Accenture by 0.7% in the 4th quarter. BlackRock Inc. now owns 42,873,376 shares of the information technology services provider’s stock valued at $6,045,575,000 after buying an additional 316,879 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Accenture by 10,215.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock valued at $175,000 after buying an additional 24,435,584 shares during the period. Northern Trust Corp boosted its position in Accenture by 1.0% in the 1st quarter. Northern Trust Corp now owns 9,953,819 shares of the information technology services provider’s stock valued at $1,752,071,000 after buying an additional 101,220 shares during the period. Finally, Geode Capital Management LLC boosted its position in Accenture by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 8,446,583 shares of the information technology services provider’s stock valued at $1,189,171,000 after buying an additional 383,234 shares during the period. Institutional investors own 69.29% of the company’s stock.

In other news, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $177.77, for a total value of $433,936.57. Following the completion of the sale, the general counsel now owns 13,381 shares of the company’s stock, valued at approximately $2,378,740.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ellyn Shook sold 2,343 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total transaction of $411,969.69. Following the completion of the sale, the insider now directly owns 33,545 shares of the company’s stock, valued at approximately $5,898,217.35. The disclosure for this sale can be found here. Insiders sold a total of 65,919 shares of company stock valued at $11,695,852 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Shares of ACN opened at $184.97 on Friday. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $186.68. The company has a market capitalization of $124.29 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.16. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The firm had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect that Accenture Plc will post 7.29 earnings per share for the current fiscal year.

ACN has been the subject of several research reports. Wells Fargo & Co boosted their price objective on shares of Accenture from $165.00 to $181.00 and gave the company an “in-line” rating in a research report on Wednesday, March 20th. Zacks Investment Research cut shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. UBS Group set a $180.00 price objective on shares of Accenture and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, KeyCorp boosted their price objective on shares of Accenture from $173.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $185.11.

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Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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