Acadian Asset Management LLC reduced its stake in shares of Accenture PLC (NYSE:ACN) by 17.8% during the second quarter, Holdings Channel reports. The firm owned 12,189 shares of the information technology services provider’s stock after selling 2,638 shares during the period. Acadian Asset Management LLC’s holdings in Accenture PLC were worth $1,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coconut Grove Bank raised its position in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. raised its position in Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 11 shares during the period. Howe & Rusling Inc. raised its position in Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 113 shares during the period. Bellwether Investment Group LLC raised its position in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after buying an additional 19 shares during the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.

Accenture PLC (ACN) traded up 1.0732% during mid-day trading on Monday, hitting $129.5759. 575,315 shares of the company were exchanged. The company has a 50 day moving average of $126.66 and a 200 day moving average of $122.51. The stock has a market cap of $80.08 billion, a P/E ratio of 22.9460 and a beta of 1.11. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67.

Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. On average, equities research analysts expect that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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A number of research firms have issued reports on ACN. BMO Capital Markets reissued a “hold” rating and set a $130.00 target price (up from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Wells Fargo & Company reissued an “outperform” rating and set a $138.00 target price (up from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. Zacks Investment Research lowered shares of Accenture PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. SunTrust Banks, Inc. lowered shares of Accenture PLC from a “buy” rating to a “hold” rating and boosted their target price for the company from $122.15 to $130.00 in a research note on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 target price on shares of Accenture PLC and gave the company a “buy” rating in a research note on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $130.71.

In other news, General Counsel Chad T. Jerdee sold 3,200 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the transaction, the general counsel now owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $840,622.92. Following the completion of the transaction, the insider now directly owns 61,714 shares in the company, valued at approximately $7,588,970.58. The disclosure for this sale can be found here. Insiders sold a total of 79,817 shares of company stock worth $9,920,929 in the last ninety days. Insiders own 0.21% of the company’s stock.

About Accenture PLC

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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Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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