Herndon Capital Management LLC Sells 7,435 Shares of Accenture PLC (ACN)

Herndon Capital Management LLC trimmed its holdings in Accenture PLC (NYSE:ACN) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,823 shares of the information technology services provider’s stock after selling 7,435 shares during the quarter. Accenture PLC accounts for approximately 2.0% of Herndon Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Herndon Capital Management LLC’s holdings in Accenture PLC were worth $13,459,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after purchasing an additional 2,749,896 shares during the last quarter. BlackRock Inc. boosted its holdings in Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after purchasing an additional 37,700,871 shares during the last quarter. State Street Corp boosted its holdings in Accenture PLC by 2.7% in the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after purchasing an additional 665,860 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after purchasing an additional 1,738,262 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock valued at $1,667,243,000 after purchasing an additional 625,381 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the stock. Berenberg Bank set a $140.00 price target on shares of Accenture PLC and gave the company a “buy” rating in a report on Saturday, June 24th. 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. BidaskClub lowered shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a report on Monday, May 29th. Finally, SunTrust Banks, Inc. lowered shares of Accenture PLC from a “buy” rating to a “hold” rating and upped their price target for the company from $122.15 to $130.00 in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Accenture PLC has a consensus rating of “Buy” and a consensus price target of $133.25.

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In other Accenture PLC news, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the sale, the insider now owns 56,014 shares of the company’s stock, valued at $7,281,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 40,134 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $123.02, for a total transaction of $4,937,284.68. Following the completion of the sale, the chief executive officer now directly owns 222,362 shares in the company, valued at approximately $27,354,973.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is owned by insiders.

Accenture PLC (NYSE:ACN) opened at 138.01 on Thursday. Accenture PLC has a 52 week low of $109.50 and a 52 week high of $138.15. The company has a 50-day moving average of $130.89 and a 200-day moving average of $124.97. The stock has a market capitalization of $85.29 billion, a price-to-earnings ratio of 24.44 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last released its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. The firm had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current year.

Accenture PLC Profile

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.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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