Alps Advisors Inc. Grows Stake in Accenture Plc (ACN)
Alps Advisors Inc. grew its stake in shares of Accenture Plc (NYSE:ACN) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,644 shares of the information technology services provider’s stock after acquiring an additional 79 shares during the period. Alps Advisors Inc.’s holdings in Accenture were worth $1,642,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Dearborn Partners LLC grew its position in shares of Accenture by 1.1% during the 4th quarter. Dearborn Partners LLC now owns 80,853 shares of the information technology services provider’s stock valued at $11,401,000 after acquiring an additional 841 shares during the period. Howe & Rusling Inc. lifted its stake in shares of Accenture by 8.9% during the 4th quarter. Howe & Rusling Inc. now owns 967 shares of the information technology services provider’s stock valued at $136,000 after buying an additional 79 shares in the last quarter. Regal Investment Advisors LLC purchased a new stake in shares of Accenture during the 4th quarter valued at approximately $149,000. WoodTrust Financial Corp lifted its stake in shares of Accenture by 1.3% during the 4th quarter. WoodTrust Financial Corp now owns 22,393 shares of the information technology services provider’s stock valued at $3,158,000 after buying an additional 296 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in shares of Accenture by 14.8% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 6,699 shares of the information technology services provider’s stock valued at $945,000 after buying an additional 864 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.
ACN has been the topic of a number of recent research reports. Wells Fargo & Co set a $165.00 price target on shares of Accenture and gave the company a “buy” rating in a research note on Thursday, December 20th. KeyCorp dropped their price target on shares of Accenture from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 19th. Morgan Stanley set a $178.00 price target on shares of Accenture and gave the company a “buy” rating in a research note on Friday, December 21st. Bank of America upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price target on the stock in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Accenture from a “buy” rating to a “hold” rating in a research note on Friday, December 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $173.84.
NYSE ACN opened at $158.03 on Thursday. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $175.64. The company has a market capitalization of $105.15 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.09 and a beta of 1.10.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.12. Accenture had a net margin of 9.99% and a return on equity of 40.31%. The business had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the prior year, the company posted $1.79 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Accenture Plc will post 7.2 earnings per share for the current fiscal year.
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Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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