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.
COPYRIGHT VIOLATION NOTICE: “Thoroughbred Financial Services LLC Purchases Shares of 1,864 Accenture Plc (ACN)” was reported by Macon Daily and is owned by of Macon Daily. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://macondaily.com/2019/03/15/thoroughbred-financial-services-llc-purchases-shares-of-1864-accenture-plc-acn.html.
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.
Read More: Why is the ROA ratio important?
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.