Orrstown Financial Services Inc. lowered its stake in shares of Accenture PLC (NYSE:ACN) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,402 shares of the information technology services provider’s stock after selling 341 shares during the period. Accenture PLC accounts for approximately 1.4% of Orrstown Financial Services Inc.’s portfolio, making the stock its 24th largest position. Orrstown Financial Services Inc.’s holdings in Accenture PLC were worth $1,286,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of ACN. TNB Financial acquired a new position in shares of Accenture PLC during the second quarter worth $568,000. Ardevora Asset Management LLP raised its position in shares of Accenture PLC by 16.2% in the second quarter. Ardevora Asset Management LLP now owns 210,600 shares of the information technology services provider’s stock worth $26,047,000 after buying an additional 29,300 shares during the period. Windward Capital Management Co. CA raised its position in shares of Accenture PLC by 0.9% in the second quarter. Windward Capital Management Co. CA now owns 155,391 shares of the information technology services provider’s stock worth $19,219,000 after buying an additional 1,421 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Accenture PLC by 12.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 200,937 shares of the information technology services provider’s stock worth $24,852,000 after buying an additional 22,900 shares during the period. Finally, CENTRAL TRUST Co raised its position in shares of Accenture PLC by 1.0% in the second quarter. CENTRAL TRUST Co now owns 7,210 shares of the information technology services provider’s stock worth $892,000 after buying an additional 74 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Accenture PLC (NYSE ACN) traded up 0.19% during midday trading on Friday, reaching $128.40. The company had a trading volume of 1,133,850 shares. The company has a market capitalization of $79.35 billion, a P/E ratio of 22.74 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $129.70. The company’s 50 day moving average price is $125.86 and its 200-day moving average price is $121.59.
Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. Accenture PLC’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on ACN shares. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday. Morgan Stanley set a $132.00 price target on Accenture PLC and gave the stock a “hold” rating in a report on Friday, June 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Cowen and Company upped their price objective on Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a report on Monday, May 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $130.71.
In other news, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total transaction of $266,332.00. Following the sale, the insider now owns 121,710 shares of the company’s stock, valued at $14,734,212.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Julie Spellman Sweet sold 1,974 shares of Accenture PLC stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $128.68, for a total value of $254,014.32. Following the sale, the insider now directly owns 14,082 shares in the company, valued at approximately $1,812,071.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,817 shares of company stock valued at $9,252,889. 0.21% of the stock is currently owned by insiders.
About Accenture PLC
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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