Grandeur Peak Global Advisors LLC Buys Shares of 42,275 Accenture Plc (ACN)

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Grandeur Peak Global Advisors LLC bought a new stake in shares of Accenture Plc (NYSE:ACN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,275 shares of the information technology services provider’s stock, valued at approximately $6,916,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ACN. Summit Trail Advisors LLC lifted its stake in Accenture by 14,894.9% during the 1st quarter. Summit Trail Advisors LLC now owns 5,129,307 shares of the information technology services provider’s stock valued at $5,129,000 after acquiring an additional 5,095,100 shares during the period. BlackRock Inc. lifted its stake in shares of Accenture by 7.2% in the 1st quarter. BlackRock Inc. now owns 42,348,766 shares of the information technology services provider’s stock worth $6,500,537,000 after purchasing an additional 2,861,472 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in shares of Accenture in the 2nd quarter worth approximately $270,434,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Accenture by 656.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 957,614 shares of the information technology services provider’s stock worth $146,994,000 after purchasing an additional 830,948 shares during the period. Finally, Findlay Park Partners LLP lifted its stake in shares of Accenture by 18.3% in the 2nd quarter. Findlay Park Partners LLP now owns 3,384,829 shares of the information technology services provider’s stock worth $553,724,000 after purchasing an additional 524,190 shares during the period. Institutional investors and hedge funds own 70.50% of the company’s stock.

NYSE ACN opened at $169.07 on Friday. Accenture Plc has a 12 month low of $132.27 and a 12 month high of $169.93. The company has a market cap of $114.26 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.28 and a beta of 0.97.

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

In other Accenture news, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $160.86, for a total transaction of $321,720.00. Following the sale, the insider now owns 117,807 shares in the company, valued at approximately $18,950,434.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ellyn Shook sold 4,375 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $168.02, for a total transaction of $735,087.50. Following the sale, the insider now owns 31,707 shares in the company, valued at approximately $5,327,410.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,357 shares of company stock worth $8,865,112. 0.21% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on ACN shares. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research note on Friday, June 29th. Deutsche Bank increased their price objective on shares of Accenture from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. Stifel Nicolaus increased their price objective on shares of Accenture from $170.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. 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 note on Tuesday, May 22nd. Finally, BMO Capital Markets increased their price objective on shares of Accenture to $170.00 and gave the stock a “market perform” rating in a research note 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 stock. The stock has a consensus rating of “Hold” and an average target price of $162.11.

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.

Read More: What is a closed-end mutual fund (CEF)?

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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