Thoroughbred Financial Services LLC Purchases Shares of 1,864 Accenture Plc (ACN)

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Thoroughbred Financial Services LLC purchased a new position in Accenture Plc (NYSE:ACN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,864 shares of the information technology services provider’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Focused Wealth Management Inc lifted its position in Accenture by 100.0% in the 4th 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 in the last quarter. Quantamental Technologies LLC bought a new position in Accenture in the 4th quarter valued at approximately $42,000. Hanson McClain Inc. lifted its position in Accenture by 28.4% in the 4th quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 75 shares in the last quarter. WealthTrust Arizona LLC lifted its position in Accenture by 25.1% in the 4th quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock valued at $51,000 after acquiring an additional 72 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in Accenture in the 4th quarter valued at approximately $56,000. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

In other Accenture news, insider Jean-Marc Ollagnier sold 6,165 shares of the stock in a transaction on 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 sale, the insider now owns 168,751 shares in the company, valued at approximately $22,808,385.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Pierre Nanterme sold 37,846 shares of the stock in a transaction on Monday, December 24th. The stock was sold at an average price of $135.16, for a total value of $5,115,265.36. Following the completion of the sale, the chief executive officer now owns 368,212 shares of the company’s stock, valued at approximately $49,767,533.92. The disclosure for this sale can be found here. Insiders sold a total of 61,033 shares of company stock valued at $8,466,177 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Shares of NYSE:ACN traded up $1.19 during midday trading on Friday, hitting $166.01. The company had a trading volume of 26,731 shares, compared to its average volume of 1,923,535. The firm has a market capitalization of $110.21 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $175.64.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm 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%. Accenture’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.79 EPS. Research analysts anticipate that Accenture Plc will post 7.2 earnings per share for the current year.

Several research firms recently issued reports on ACN. Citigroup raised Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $161.00 to $169.00 in a research report on Wednesday, January 16th. Bank of America upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $143.07 target price for the company in a research note on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. SunTrust Banks set a $157.00 target price on shares of Accenture and gave the company a “hold” rating in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group set a $148.00 target price on shares of Accenture and gave the company a “hold acn” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $173.84.

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Accenture Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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