Waldron Private Wealth LLC trimmed its position in Accenture Plc (NYSE:ACN) by 1.0% in the second quarter, Holdings Channel.com reports. The fund owned 8,540 shares of the information technology services provider’s stock after selling 83 shares during the period. Waldron Private Wealth LLC’s holdings in Accenture were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lenox Wealth Advisors LLC lifted its holdings in shares of Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 101 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Accenture in the first quarter valued at $27,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Accenture in the first quarter valued at $30,000. Semmax Financial Advisors Inc. acquired a new stake in shares of Accenture in the first quarter valued at $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Accenture by 455.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
ACN stock traded up $2.80 during mid-day trading on Tuesday, hitting $192.80. The stock had a trading volume of 1,406,812 shares, compared to its average volume of 1,598,895. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $197.47. The business’s fifty day moving average price is $191.74. The stock has a market cap of $128.67 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 EPS 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 analyst estimates of $11.03 billion. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The firm’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 posted $1.79 EPS. As a group, equities research analysts predict that Accenture Plc will post 7.33 EPS for the current year.
Several brokerages have recently weighed in on ACN. Argus upped their price objective on Accenture to $220.00 and gave the company a “buy” rating in a report on Monday, July 15th. UBS Group set a $190.00 price objective on Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Citigroup upped their price objective on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Bank of America upped their price objective on Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Finally, Credit Suisse Group set a $180.00 target price on Accenture and gave the company a “hold” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $192.38.
In other news, insider Daniel T. London sold 2,283 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total transaction of $429,272.49. Following the transaction, the insider now owns 27,294 shares of the company’s stock, valued at approximately $5,132,090.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Rowland sold 2,255 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total value of $437,537.65. Following the transaction, the chief executive officer now directly owns 25,078 shares in the company, valued at approximately $4,865,884.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,760 shares of company stock worth $4,353,328. 0.18% of the stock is currently owned by insiders.
Accenture Company 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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