Chesley Taft & Associates LLC reduced its position in Accenture PLC (NYSE:ACN) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,375 shares of the information technology services provider’s stock after selling 9,941 shares during the period. Accenture PLC accounts for about 1.6% of Chesley Taft & Associates LLC’s portfolio, making the stock its 12th largest position. Chesley Taft & Associates LLC’s holdings in Accenture PLC were worth $17,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after buying an additional 2,749,896 shares during the last quarter. BlackRock Inc. increased its position in Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after buying an additional 37,700,871 shares during the last quarter. State Street Corp increased its position in Accenture PLC by 2.7% in the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock worth $3,039,762,000 after buying an additional 665,860 shares during the last quarter. Wellington Management Group LLP increased its position in Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after buying an additional 1,738,262 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock worth $1,667,243,000 after buying an additional 625,381 shares during the last quarter. Institutional investors own 77.78% of the company’s stock.

Accenture PLC (ACN) traded down 0.50% during trading on Friday, reaching $130.10. 1,528,282 shares of the company’s stock traded hands. The company has a market capitalization of $80.40 billion, a price-to-earnings ratio of 23.04 and a beta of 1.11. The firm’s 50 day moving average is $128.85 and its 200-day moving average is $123.97. Accenture PLC has a 12 month low of $108.83 and a 12 month high of $130.95.

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

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A number of research analysts have recently issued reports on ACN shares. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley set a $132.00 price target on shares of Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. Robert W. Baird restated a “neutral” rating and issued a $138.00 price target (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Cowen and Company raised their price target on shares of Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Monday, May 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.17.

In related news, General Counsel Chad T. Jerdee sold 3,200 shares of the company’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 $393,504.00. Following the transaction, the general counsel now owns 18,566 shares in the company, valued at approximately $2,283,061.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Johan Deblaere sold 5,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $122.99, for a total transaction of $614,950.00. Following the transaction, the chief operating officer now owns 126,417 shares in the company, valued at approximately $15,548,026.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is owned by corporate insiders.

Accenture PLC Company Profile

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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