K.J. Harrison & Partners Inc reduced its holdings in Accenture Plc (NYSE:ACN) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,100 shares of the information technology services provider’s stock after selling 400 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Accenture were worth $388,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Lenox Wealth Advisors LLC raised its position in Accenture by 297.1% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in Accenture in the 1st quarter worth approximately $30,000. Semmax Financial Advisors Inc. bought a new position in Accenture in the 1st quarter worth approximately $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Accenture by 455.9% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 155 shares during the last quarter. Finally, Next Capital Management LLC bought a new position in Accenture in the 2nd quarter worth approximately $34,000. 69.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total transaction of $970,000.00. Following the completion of the transaction, the insider now directly owns 36,713 shares in the company, valued at approximately $7,122,322. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Chad T. Jerdee sold 3,247 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $186.34, for a total transaction of $605,045.98. Following the transaction, the general counsel now owns 13,271 shares of the company’s stock, valued at $2,472,918.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,760 shares of company stock valued at $4,353,328. Company insiders own 0.18% of the company’s stock.
NYSE ACN traded down $0.12 on Tuesday, reaching $195.06. The company had a trading volume of 19,190 shares, compared to its average volume of 1,753,020. The firm has a market capitalization of $129.86 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $197.47. The company’s fifty day moving average is $192.81 and its 200-day moving average is $177.76.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 EPS. Research analysts anticipate that Accenture Plc will post 7.33 earnings per share for the current year.
ACN has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a research report on Friday, June 28th. Citigroup upped their target price on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Argus upped their target price on shares of Accenture to $220.00 and gave the company a “buy” rating in a research report on Monday, July 15th. UBS Group set a $190.00 target price on shares of Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Finally, Bank of America upped their target price on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $192.38.
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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