Cypress Capital Group reduced its position in shares of Accenture PLC (NYSE:ACN) by 2.2% during the first quarter, Holdings Channel reports. The fund owned 51,743 shares of the information technology services provider’s stock after selling 1,137 shares during the period. Accenture PLC comprises about 1.4% of Cypress Capital Group’s investment portfolio, making the stock its 20th largest position. Cypress Capital Group’s holdings in Accenture PLC were worth $6,203,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised 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 period. BlackRock Inc. raised 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 period. State Street Corp raised 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 period. Wellington Management Group LLP raised 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 period. Finally, Bank of New York Mellon Corp raised 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 period. 77.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accenture PLC (ACN) traded up 0.035% on Friday, reaching $128.285. 349,615 shares of the company traded hands. The firm has a 50-day moving average price of $126.48 and a 200 day moving average price of $122.42. The company has a market capitalization of $79.28 billion, a PE ratio of 22.717 and a beta of 1.11. Accenture PLC has a one year low of $108.83 and a one year high of $130.67.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during 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%. Accenture PLC’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. Equities analysts forecast that Accenture PLC will post $5.90 EPS for the current fiscal year.

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A number of equities analysts have commented on the stock. Berenberg Bank set a $140.00 price target on shares of Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Cowen and Company restated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub lowered shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. 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. Finally, SunTrust Banks, Inc. lowered shares of Accenture PLC from a “buy” rating to a “hold” rating and boosted their price target for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $130.71.

In other news, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the insider now owns 56,014 shares in the company, valued at approximately $7,281,820. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $393,504.00. Following the completion of the sale, the general counsel now owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock valued at $9,920,929 in the last 90 days. 0.21% of the stock is currently owned by company 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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