91,124 Shares in Accenture Plc (ACN) Purchased by Elkfork Partners LLC
Elkfork Partners LLC purchased a new position in Accenture Plc (NYSE:ACN) during the fourth quarter, HoldingsChannel reports. The fund purchased 91,124 shares of the information technology services provider’s stock, valued at approximately $13,950,000.
Several other large investors also recently modified their holdings of ACN. Virtue Capital Management LLC bought a new position in shares of Accenture in the 4th quarter worth $128,000. Aevitas Wealth Management Inc. bought a new position in shares of Accenture in the 4th quarter worth $131,000. Santori & Peters Inc. bought a new position in shares of Accenture in the 4th quarter worth $181,000. Americafirst Capital Management LLC bought a new position in shares of Accenture in the 3rd quarter worth $187,000. Finally, Monroe Bank & Trust MI increased its holdings in shares of Accenture by 27.8% in the 3rd quarter. Monroe Bank & Trust MI now owns 1,646 shares of the information technology services provider’s stock worth $193,000 after buying an additional 358 shares during the last quarter. 75.57% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on ACN. KeyCorp increased their price target on shares of Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a report on Saturday, December 30th. SunTrust Banks reissued a “hold” rating and issued a $164.00 price target on shares of Accenture in a report on Thursday, December 21st. Barclays increased their price target on shares of Accenture from $135.00 to $152.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Cowen reissued a “buy” rating and issued a $166.00 price target on shares of Accenture in a report on Friday, December 22nd. Finally, Susquehanna Bancshares reissued a “hold” rating and issued a $145.00 price target on shares of Accenture in a report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Accenture currently has an average rating of “Hold” and an average price target of $159.04.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.09. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.31 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 EPS. analysts anticipate that Accenture Plc will post 6.66 earnings per share for the current year.
In other Accenture news, CAO Richard P. Clark sold 1,433 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the completion of the sale, the chief accounting officer now owns 8,932 shares of the company’s stock, valued at approximately $1,414,560.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Rowland sold 3,102 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $161.21, for a total transaction of $500,073.42. Following the sale, the chief financial officer now directly owns 25,012 shares of the company’s stock, valued at approximately $4,032,184.52. The disclosure for this sale can be found here. Insiders have sold a total of 117,249 shares of company stock valued at $18,106,228 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
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.
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