Accenture Plc (ACN) Position Increased by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System raised its position in Accenture Plc (NYSE:ACN) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 853,353 shares of the information technology services provider’s stock after purchasing an additional 2,560 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Accenture were worth $139,600,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ACN. Reliant Investment Management LLC increased its position in shares of Accenture by 2.3% during the second quarter. Reliant Investment Management LLC now owns 23,120 shares of the information technology services provider’s stock worth $3,782,000 after acquiring an additional 525 shares during the period. Quest Investment Management LLC increased its position in shares of Accenture by 12.7% during the second quarter. Quest Investment Management LLC now owns 93,476 shares of the information technology services provider’s stock worth $15,292,000 after acquiring an additional 10,499 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Accenture by 4.7% during the second quarter. Checchi Capital Advisers LLC now owns 18,592 shares of the information technology services provider’s stock worth $3,041,000 after acquiring an additional 827 shares during the period. Rhumbline Advisers boosted its stake in shares of Accenture by 5.1% during the second quarter. Rhumbline Advisers now owns 1,089,041 shares of the information technology services provider’s stock valued at $178,156,000 after purchasing an additional 52,782 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Accenture by 98.2% during the second quarter. Belpointe Asset Management LLC now owns 4,650 shares of the information technology services provider’s stock valued at $761,000 after purchasing an additional 2,304 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on ACN shares. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the company a “buy” rating in a research note on Monday, June 11th. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “positive” rating in a research note on Tuesday, June 19th. Cantor Fitzgerald reiterated a “buy” rating and set a $180.00 price objective on shares of Accenture in a research note on Wednesday, April 25th. Finally, Susquehanna Bancshares upgraded shares of Accenture from a “neutral” rating to a “positive” rating and increased their price objective for the company from $165.00 to $190.00 in a research note on Tuesday, June 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $162.11.

In other Accenture news, CEO Pierre Nanterme sold 32,376 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.39, for a total value of $5,257,538.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.36, for a total transaction of $811,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,357 shares of company stock valued at $8,543,392. 0.21% of the stock is owned by insiders.

Shares of ACN opened at $160.68 on Friday. The company has a market capitalization of $108.38 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.32 and a beta of 0.96. Accenture Plc has a twelve month low of $127.26 and a twelve month high of $168.95.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.07. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.04 billion. Accenture had a net margin of 9.76% and a return on equity of 42.01%. Accenture’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. equities research analysts anticipate that Accenture Plc will post 6.71 EPS for the current year.

Accenture Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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