Accenture Plc (ACN) Stake Lessened by Chemical Bank

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Chemical Bank trimmed its position in Accenture Plc (NYSE:ACN) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,338 shares of the information technology services provider’s stock after selling 385 shares during the quarter. Chemical Bank’s holdings in Accenture were worth $5,454,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management bought a new position in shares of Accenture in the first quarter worth approximately $357,000. BB&T Securities LLC increased its position in shares of Accenture by 83.1% in the first quarter. BB&T Securities LLC now owns 256,405 shares of the information technology services provider’s stock worth $39,357,000 after purchasing an additional 116,349 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Accenture by 109.4% in the second quarter. Capital Investment Advisors LLC now owns 3,224 shares of the information technology services provider’s stock worth $527,000 after purchasing an additional 1,684 shares during the last quarter. Investment House LLC increased its position in shares of Accenture by 1.0% in the second quarter. Investment House LLC now owns 103,513 shares of the information technology services provider’s stock worth $16,934,000 after purchasing an additional 984 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Accenture by 24.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 53,600 shares of the information technology services provider’s stock worth $8,228,000 after purchasing an additional 10,700 shares during the last quarter. 69.99% of the stock is currently owned by hedge funds and other institutional investors.

ACN has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Accenture from $170.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research report on Tuesday, June 5th. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research report on Tuesday, May 22nd. Cantor Fitzgerald restated a “buy” rating and issued a $180.00 price objective on shares of Accenture in a research report on Wednesday, April 25th. Finally, Deutsche Bank increased their price target on shares of Accenture from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, June 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $162.11.

In other news, CEO Pierre Nanterme sold 32,376 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $162.39, for a total transaction of $5,257,538.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Johan Deblaere sold 5,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.36, for a total value of $811,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,357 shares of company stock valued at $8,865,112. Insiders own 0.21% of the company’s stock.

Shares of NYSE ACN opened at $165.12 on Tuesday. Accenture Plc has a one year low of $127.26 and a one year high of $168.95. The company has a market cap of $111.25 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.07. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.04 billion. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. equities research analysts predict that Accenture Plc will post 6.71 EPS for the current fiscal year.

Accenture Company 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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