Mackenzie Financial Corp increased its stake in Accenture Plc (NYSE:ACN) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,646,225 shares of the information technology services provider’s stock after purchasing an additional 351,264 shares during the quarter. Mackenzie Financial Corp’s holdings in Accenture were worth $232,134,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Focused Wealth Management Inc raised its holdings in Accenture by 100.0% during the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Quantamental Technologies LLC bought a new stake in Accenture during the fourth quarter valued at about $42,000. We Are One Seven LLC bought a new stake in Accenture during the fourth quarter valued at about $56,000. First Interstate Bank raised its holdings in Accenture by 43.6% during the fourth quarter. First Interstate Bank now owns 395 shares of the information technology services provider’s stock valued at $56,000 after acquiring an additional 120 shares during the period. Finally, Exane Asset Management bought a new stake in Accenture during the fourth quarter valued at about $78,000. 70.19% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. KeyCorp reissued a “buy” rating and set a $173.00 price target on shares of Accenture in a report on Friday, December 21st. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Monday, December 10th. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price objective for the company in a research report on Tuesday, January 8th. They noted that the move was a valuation call. SunTrust Banks set a $157.00 price objective on Accenture and gave the company a “hold” rating in a research report on Wednesday, January 2nd. Finally, Morgan Stanley set a $178.00 price objective on Accenture and gave the company a “buy” rating in a research report on Friday, December 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $173.84.
In related news, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $155.88, for a total value of $311,760.00. Following the completion of the transaction, the insider now owns 131,024 shares in the company, valued at $20,424,021.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,165 shares of Accenture stock in a transaction dated Monday, December 24th. The stock was sold at an average price of $135.16, for a total value of $833,261.40. Following the completion of the transaction, the insider now owns 168,751 shares of the company’s stock, valued at approximately $22,808,385.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,033 shares of company stock valued at $8,466,177. 0.18% of the stock is currently owned by company insiders.
ACN opened at $159.71 on Thursday. The stock has a market capitalization of $105.93 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.14 and a beta of 1.10. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $175.64.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.12. The company had revenue of $10.61 billion during the quarter, compared to analyst estimates of $10.54 billion. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.79 earnings per share. As a group, analysts expect that Accenture Plc will post 7.2 EPS for the current year.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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