Oakbrook Investments LLC increased its stake in Accenture Plc (NYSE:ACN) by 17.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,776 shares of the information technology services provider’s stock after acquiring an additional 715 shares during the quarter. Oakbrook Investments LLC’s holdings in Accenture were worth $882,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. raised its position in Accenture by 70.2% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. Lenox Wealth Advisors LLC boosted its position in Accenture by 297.1% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Accenture during the first quarter valued at approximately $27,000. Financial Gravity Wealth Inc. purchased a new position in shares of Accenture during the first quarter valued at approximately $30,000. Finally, Semmax Financial Advisors Inc. purchased a new position in shares of Accenture during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 69.23% of the company’s stock.
ACN has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Total System Services from $98.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, March 29th. William Blair restated an “outperform” rating on shares of Accenture in a research report on Friday, March 29th. Berenberg Bank upgraded shares of easyJet to a “hold” rating in a research report on Monday, April 1st. KeyCorp increased their price objective on shares of Accenture from $173.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, March 29th. Finally, SunTrust Banks increased their price objective on shares of Accenture to $180.00 and gave the stock a “hold” rating in a research report on Friday, March 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average price target of $192.38.
In related news, CEO David Rowland sold 2,255 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total value of $437,537.65. Following the sale, the chief executive officer now directly owns 25,078 shares of the company’s stock, valued at $4,865,884.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula A. Price sold 645 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $194.24, for a total transaction of $125,284.80. Following the completion of the sale, the director now directly owns 6,716 shares in the company, valued at $1,304,515.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,147 shares of company stock worth $9,464,808. 0.18% of the stock is owned by corporate insiders.
Shares of Accenture stock traded up $0.02 on Tuesday, reaching $194.46. The company had a trading volume of 71,832 shares, compared to its average volume of 1,834,350. The business has a 50 day simple moving average of $187.62. The stock has a market cap of $130.25 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.56 and a beta of 1.05. Accenture Plc has a 52-week low of $132.63 and a 52-week high of $196.36.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. Accenture’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. As a group, equities research analysts expect that Accenture Plc will post 7.33 EPS for the current fiscal year.
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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