Northwest Investment Counselors LLC Decreases Stake in Accenture PLC (ACN)
Northwest Investment Counselors LLC reduced its stake in Accenture PLC (NYSE:ACN) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,077 shares of the information technology services provider’s stock after selling 521 shares during the period. Accenture PLC comprises approximately 1.1% of Northwest Investment Counselors LLC’s portfolio, making the stock its 21st largest position. Northwest Investment Counselors LLC’s holdings in Accenture PLC were worth $2,359,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 valued at $5,679,843,000 after buying an additional 2,749,896 shares during the period. BlackRock Inc. raised its stake 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 valued at $4,730,821,000 after buying an additional 37,700,871 shares during the period. State Street Corp raised its stake 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 valued at $3,039,762,000 after buying an additional 665,860 shares during the period. Wellington Management Group LLP raised its stake 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 valued at $2,587,385,000 after buying an additional 1,738,262 shares during the period. Finally, Bank of New York Mellon Corp raised its stake 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 valued at $1,667,243,000 after buying an additional 625,381 shares during the period. 77.78% of the stock is currently owned by institutional investors and hedge funds.
Accenture PLC (ACN) traded up 0.02% during midday trading on Tuesday, reaching $129.26. 335,622 shares of the company were exchanged. The firm has a market capitalization of $79.88 billion, a PE ratio of 22.89 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.67. The company has a 50-day moving average of $128.12 and a 200 day moving average of $123.50.
Accenture PLC (NYSE:ACN) last released its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 EPS. Equities analysts predict that Accenture PLC will post $5.90 earnings per share for the current year.
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Several analysts have recently issued reports on ACN shares. 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. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Monday, May 29th. Zacks Investment Research lowered shares of Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 price target (up previously from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Accenture PLC has a consensus rating of “Buy” and a consensus target price of $131.17.
In other news, insider Richard Lumb sold 2,200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $129.26, for a total transaction of $284,372.00. Following the completion of the transaction, the insider now directly owns 119,013 shares in the company, valued at approximately $15,383,620.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Pierre Nanterme sold 40,134 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $123.02, for a total value of $4,937,284.68. Following the transaction, the chief executive officer now owns 222,362 shares of the company’s stock, valued at $27,354,973.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,817 shares of company stock valued at $9,920,929. Company 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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