Employees Retirement System of Texas decreased its position in Accenture Plc (NYSE:ACN) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,180 shares of the information technology services provider’s stock after selling 15,330 shares during the quarter. Employees Retirement System of Texas’ holdings in Accenture were worth $35,026,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Farmers National Bank acquired a new stake in Accenture during the fourth quarter worth approximately $107,000. Penserra Capital Management LLC acquired a new stake in Accenture during the first quarter worth approximately $127,000. Virtue Capital Management LLC acquired a new stake in Accenture during the fourth quarter worth approximately $128,000. Aevitas Wealth Management Inc. acquired a new stake in Accenture during the fourth quarter worth approximately $131,000. Finally, Wagner Wealth Management LLC acquired a new stake in Accenture during the fourth quarter worth approximately $179,000. 73.99% of the stock is currently owned by institutional investors.
In other news, insider Richard Lumb sold 2,000 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total value of $312,200.00. Following the completion of the transaction, the insider now directly owns 120,025 shares in the company, valued at approximately $18,735,902.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre Nanterme sold 36,858 shares of the stock in a transaction on Monday, March 26th. The shares were sold at an average price of $150.80, for a total value of $5,558,186.40. Following the completion of the transaction, the chief executive officer now owns 357,405 shares of the company’s stock, valued at $53,896,674. The disclosure for this sale can be found here. Insiders sold a total of 53,828 shares of company stock valued at $8,145,630 over the last quarter. 0.21% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research report on Tuesday, May 22nd. Pivotal Research set a $180.00 price target on Accenture and gave the stock a “buy” rating in a research report on Friday, May 11th. Credit Suisse Group set a $151.00 price target on Accenture and gave the stock a “hold” rating in a research report on Thursday, April 26th. Cantor Fitzgerald reissued a “buy” rating and set a $180.00 price target on shares of Accenture in a research report on Wednesday, April 25th. Finally, ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $161.37.
Shares of ACN stock opened at $155.99 on Friday. Accenture Plc has a fifty-two week low of $119.10 and a fifty-two week high of $165.58. The firm has a market capitalization of $98.84 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.03.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.31 billion. During the same period in the prior year, the company earned $1.33 EPS. Accenture’s revenue was up 15.2% compared to the same quarter last year. equities research analysts expect that Accenture Plc will post 6.69 earnings per share for the current year.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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