Cambridge Investment Research Advisors Inc. Raises Position in Accenture Plc (ACN)

Cambridge Investment Research Advisors Inc. increased its holdings in Accenture Plc (NYSE:ACN) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,467 shares of the information technology services provider’s stock after buying an additional 1,227 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Accenture were worth $4,677,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Deutsche Bank AG increased its holdings in Accenture by 34.3% in the 4th quarter. Deutsche Bank AG now owns 1,453,595 shares of the information technology services provider’s stock worth $222,522,000 after buying an additional 370,895 shares during the period. Wealthfront Inc. increased its holdings in Accenture by 9.6% in the 4th quarter. Wealthfront Inc. now owns 23,247 shares of the information technology services provider’s stock worth $3,559,000 after buying an additional 2,043 shares during the period. Lazard Asset Management LLC increased its holdings in Accenture by 2.6% in the 4th quarter. Lazard Asset Management LLC now owns 4,338,133 shares of the information technology services provider’s stock worth $664,123,000 after buying an additional 109,935 shares during the period. Ironvine Capital Partners LLC acquired a new position in Accenture in the 4th quarter worth approximately $2,040,000. Finally, Brookstone Capital Management increased its holdings in Accenture by 25.3% in the 4th quarter. Brookstone Capital Management now owns 3,521 shares of the information technology services provider’s stock worth $539,000 after buying an additional 711 shares during the period. Institutional investors own 73.99% of the company’s stock.

Accenture opened at $155.33 on Wednesday, MarketBeat Ratings reports. Accenture Plc has a 1 year low of $119.10 and a 1 year high of $165.58. The firm has a market capitalization of $98.67 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.32 and a beta of 1.03.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Accenture had a net margin of 9.18% and a return on equity of 41.50%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.31 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. equities analysts expect that Accenture Plc will post 6.69 earnings per share for the current fiscal year.

ACN has been the topic of several research reports. Morgan Stanley upgraded shares of Accenture from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $159.00 to $140.00 in a report on Monday, February 5th. Wedbush dropped their price objective on shares of Accenture from $180.00 to $153.50 and set an “outperform” rating on the stock in a research note on Monday, April 2nd. BMO Capital Markets raised their price objective on shares of Accenture from $156.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, March 23rd. Sanford C. Bernstein initiated coverage on shares of Accenture in a research note on Wednesday, March 28th. They set an “outperform” rating and a $180.00 price objective on the stock. Finally, Pivotal Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Accenture in a research note on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $161.37.

In other Accenture news, insider Richard Lumb sold 2,000 shares of the firm’s 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 transaction, the insider now owns 120,025 shares in the company, valued at approximately $18,735,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gianfranco Casati sold 5,063 shares of the firm’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of $152.99, for a total value of $774,588.37. Following the completion of the transaction, the insider now owns 47,802 shares in the company, valued at approximately $7,313,227.98. The disclosure for this sale can be found here. Insiders sold a total of 53,828 shares of company stock worth $8,145,630 in the last three months. 0.21% of the stock is owned by corporate insiders.

About Accenture

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.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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