Norinchukin Bank The increased its stake in Accenture Plc (NYSE:ACN) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,238 shares of the information technology services provider’s stock after purchasing an additional 13,497 shares during the period. Norinchukin Bank The’s holdings in Accenture were worth $18,303,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Accenture by 7.2% in the 1st quarter. BlackRock Inc. now owns 42,348,766 shares of the information technology services provider’s stock worth $6,500,537,000 after purchasing an additional 2,861,472 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Accenture by 54.1% in the 4th quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock worth $1,068,260,000 after purchasing an additional 2,450,772 shares during the last quarter. WCM Investment Management CA raised its stake in Accenture by 4.2% during the 1st quarter. WCM Investment Management CA now owns 5,503,799 shares of the information technology services provider’s stock valued at $844,833,000 after acquiring an additional 223,617 shares in the last quarter. Franklin Resources Inc. raised its stake in Accenture by 1.5% during the 1st quarter. Franklin Resources Inc. now owns 4,994,675 shares of the information technology services provider’s stock valued at $766,684,000 after acquiring an additional 74,921 shares in the last quarter. Finally, Polen Capital Management LLC raised its stake in Accenture by 1.4% during the 4th quarter. Polen Capital Management LLC now owns 4,940,069 shares of the information technology services provider’s stock valued at $756,275,000 after acquiring an additional 67,052 shares in the last quarter. 73.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Accenture opened at $155.99 on Friday, MarketBeat.com reports. Accenture Plc has a 1 year low of $119.10 and a 1 year high of $165.58. The firm has a market cap of $99.10 billion, a PE ratio of 26.39, a PEG ratio of 2.33 and a beta of 1.03.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.09. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.31 billion. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. sell-side analysts predict that Accenture Plc will post 6.69 earnings per share for the current year.
Several analysts have weighed in on ACN shares. Morgan Stanley raised Accenture from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $159.00 to $140.00 in a research note on Monday, February 5th. Pivotal Research set a $180.00 target price on Accenture and gave the company a “buy” rating in a research note on Tuesday, February 20th. KeyCorp lifted their target price on Accenture from $172.00 to $181.00 and gave the company a “positive” rating in a research note on Monday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $180.00 target price (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Finally, Robert W. Baird lifted their target price on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. One equities 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $161.37.
In related news, insider Richard Lumb sold 2,000 shares of Accenture 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 directly 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 accessible through this hyperlink. Also, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction on Monday, March 26th. The stock was sold at an average price of $150.72, for a total value of $753,600.00. Following the completion of the transaction, the chief operating officer now owns 73,638 shares in the company, valued at $11,098,719.36. The disclosure for this sale can be found here. Insiders sold a total of 53,828 shares of company stock worth $8,145,630 over the last 90 days. Insiders own 0.21% of the company’s stock.
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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