Twin Capital Management Inc. trimmed its position in Accenture Plc (NYSE:ACN) by 29.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,520 shares of the information technology services provider’s stock after selling 39,210 shares during the quarter. Accenture comprises approximately 1.2% of Twin Capital Management Inc.’s holdings, making the stock its 13th biggest position. Twin Capital Management Inc.’s holdings in Accenture were worth $17,464,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors LLC grew 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 purchasing an additional 101 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Accenture in the first quarter valued at $27,000. Financial Gravity Wealth Inc. purchased a new position in shares of Accenture in the first quarter valued at $30,000. Semmax Financial Advisors Inc. purchased a new position in shares of Accenture in the first quarter valued at $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew 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 purchasing an additional 155 shares in the last quarter. 69.57% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the stock. Deutsche Bank raised their target price on shares of Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, June 10th. Wells Fargo & Co raised their target price on shares of Accenture from $193.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. BMO Capital Markets raised their target price on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a report on Friday, June 28th. UBS Group set a $190.00 target price on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $192.38.
ACN traded up $2.39 during trading on Thursday, reaching $189.36. The company had a trading volume of 63,351 shares, compared to its average volume of 1,615,405. The company has a market capitalization of $125.79 billion, a PE ratio of 28.07, a P/E/G ratio of 2.51 and a beta of 1.04. The business’s 50 day moving average is $191.92. Accenture Plc has a 52 week low of $132.63 and a 52 week high of $197.47.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. Accenture had a return on equity of 36.24% and a net margin of 10.93%. Accenture’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. As a group, equities analysts expect that Accenture Plc will post 7.33 earnings per share for the current year.
In other news, insider Daniel T. London sold 2,283 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,132,090.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Chad T. Jerdee sold 3,247 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $186.34, for a total value of $605,045.98. Following the transaction, the general counsel now owns 13,271 shares in the company, valued at approximately $2,472,918.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,760 shares of company stock valued at $4,353,328. 0.18% of the stock is owned by corporate 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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