Graves Light Private Wealth Management Inc. Has $216,000 Stake in Accenture Plc (NYSE:ACN)

Graves Light Private Wealth Management Inc. decreased its position in shares of Accenture Plc (NYSE:ACN) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,171 shares of the information technology services provider’s stock after selling 152 shares during the period. Graves Light Private Wealth Management Inc.’s holdings in Accenture were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mitchell Capital Management Co. lifted its position in Accenture by 1.4% during the 1st quarter. Mitchell Capital Management Co. now owns 4,140 shares of the information technology services provider’s stock worth $729,000 after acquiring an additional 56 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Accenture by 1.6% during the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock worth $672,000 after purchasing an additional 57 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of Accenture by 11.2% during the 1st quarter. TCI Wealth Advisors Inc. now owns 637 shares of the information technology services provider’s stock worth $112,000 after purchasing an additional 64 shares during the period. Enterprise Bank & Trust Co increased its holdings in shares of Accenture by 0.7% during the 2nd quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock worth $1,807,000 after purchasing an additional 65 shares during the period. Finally, Convergence Investment Partners LLC increased its holdings in shares of Accenture by 4.5% during the 1st quarter. Convergence Investment Partners LLC now owns 1,578 shares of the information technology services provider’s stock worth $278,000 after purchasing an additional 68 shares during the period. 69.42% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Wells Fargo & Co boosted their price objective on shares of Accenture from $193.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. BMO Capital Markets boosted their price objective on shares of Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a report on Friday, June 28th. Deutsche Bank boosted their price objective on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Credit Suisse Group set a $180.00 price objective on shares of Accenture and gave the stock a “hold” rating in a report on Friday, June 28th. Finally, Citigroup boosted their price objective on shares of Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Accenture currently has an average rating of “Buy” and a consensus target price of $192.38.

In related news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $196.95, for a total value of $393,900.00. Following the sale, the insider now owns 73,548 shares of the company’s stock, valued at $14,485,278.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total transaction of $970,000.00. Following the completion of the sale, the insider now directly owns 36,713 shares in the company, valued at approximately $7,122,322. The disclosure for this sale can be found here. In the last three months, insiders sold 36,147 shares of company stock worth $6,597,288. 0.18% of the stock is currently owned by insiders.

NYSE ACN opened at $193.01 on Friday. The company has a market capitalization of $130.47 billion, a PE ratio of 28.64, a P/E/G ratio of 2.56 and a beta of 1.04. The company has a 50-day simple moving average of $190.60. Accenture Plc has a twelve month low of $132.63 and a twelve month high of $197.47.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. As a group, research analysts forecast that Accenture Plc will post 7.33 EPS for the current fiscal year.

About Accenture

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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