Modera Wealth Management LLC cut its stake in Accenture PLC (NYSE:ACN) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,553 shares of the information technology services provider’s stock after selling 137 shares during the period. Modera Wealth Management LLC’s holdings in Accenture PLC were worth $786,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Waldron LP increased its position in shares of Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after buying an additional 2,756 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its stake in Accenture PLC by 1.4% in the first quarter. Osborn Williams & Donohoe LLC now owns 33,820 shares of the information technology services provider’s stock valued at $4,054,000 after buying an additional 465 shares during the last quarter. Hermes Investment Management Ltd. boosted its stake in Accenture PLC by 4.3% in the first quarter. Hermes Investment Management Ltd. now owns 478,527 shares of the information technology services provider’s stock valued at $57,366,000 after buying an additional 19,687 shares during the last quarter. Novare Capital Management LLC boosted its stake in Accenture PLC by 8.1% in the first quarter. Novare Capital Management LLC now owns 39,548 shares of the information technology services provider’s stock valued at $4,741,000 after buying an additional 2,950 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Accenture PLC by 9.3% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,269 shares of the information technology services provider’s stock valued at $272,000 after buying an additional 193 shares during the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.
Shares of Accenture PLC (NYSE ACN) opened at 130.20 on Friday. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67. The firm has a 50-day moving average price of $126.05 and a 200 day moving average price of $121.87. The company has a market capitalization of $80.46 billion, a P/E ratio of 23.06 and a beta of 1.11.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. On average, equities research analysts predict that Accenture PLC will post $5.90 earnings per share for the current year.
Several analysts have weighed in on the company. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a report on Friday, July 28th. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the company a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets reiterated a “hold” rating and issued a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 price objective on Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $130.71.
In other Accenture PLC news, insider Richard Lumb sold 2,200 shares of the stock in a transaction 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 approximately $14,734,212.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Johan Deblaere sold 5,000 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.99, for a total value of $614,950.00. Following the sale, the chief operating officer now directly owns 126,417 shares in the company, valued at approximately $15,548,026.83. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock worth $9,902,889 in the last ninety days. Insiders own 0.21% of the company’s stock.
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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