Accenture Plc (ACN) Position Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Accenture Plc (NYSE:ACN) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,416,063 shares of the information technology services provider’s stock after selling 178,039 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.22% of Accenture worth $216,786,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ACN. Capital Research Global Investors raised its stake in Accenture by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after buying an additional 605,156 shares in the last quarter. Wells Fargo & Company MN raised its stake in Accenture by 54.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock valued at $1,068,260,000 after buying an additional 2,450,772 shares in the last quarter. Independent Franchise Partners LLP raised its stake in Accenture by 3.7% during the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after buying an additional 222,828 shares in the last quarter. WCM Investment Management CA raised its stake in Accenture by 5.9% during the fourth quarter. WCM Investment Management CA now owns 5,280,182 shares of the information technology services provider’s stock valued at $808,343,000 after buying an additional 291,858 shares in the last quarter. Finally, Polen Capital Management LLC raised its stake in Accenture by 2.6% during the third quarter. Polen Capital Management LLC now owns 4,873,017 shares of the information technology services provider’s stock valued at $658,198,000 after buying an additional 124,266 shares in the last quarter. Institutional investors and hedge funds own 75.63% of the company’s stock.

Accenture Plc (NYSE:ACN) opened at $159.79 on Thursday. Accenture Plc has a fifty-two week low of $114.82 and a fifty-two week high of $162.60. The stock has a market capitalization of $99,637.00, a P/E ratio of 28.28, a P/E/G ratio of 2.36 and a beta of 1.05.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. sell-side analysts anticipate that Accenture Plc will post 6.65 EPS for the current year.

A number of brokerages have recently weighed in on ACN. Cowen set a $150.00 price target on Accenture and gave the stock a “buy” rating in a research report on Monday, October 23rd. Susquehanna Bancshares reiterated a “hold” rating and set a $145.00 price target on shares of Accenture in a research report on Tuesday, December 26th. Pivotal Research set a $180.00 price target on Accenture and gave the stock a “buy” rating in a research report on Thursday, December 28th. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Tuesday, November 28th. Finally, Bank of America increased their price target on Accenture from $150.00 to $171.00 in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $156.57.

In related news, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $155.34, for a total value of $310,680.00. Following the completion of the transaction, the insider now directly owns 121,041 shares of the company’s stock, valued at approximately $18,802,508.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Richard P. Clark sold 1,433 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $158.37, for a total value of $226,944.21. Following the completion of the transaction, the chief accounting officer now directly owns 8,932 shares of the company’s stock, valued at $1,414,560.84. The disclosure for this sale can be found here. Insiders sold a total of 117,249 shares of company stock valued at $18,106,228 over the last three months. Corporate insiders own 0.21% of the company’s stock.

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Accenture Company 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 (NYSE:ACN)

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