Municipal Employees Retirement System of Michigan Raises Stake in Accenture PLC (ACN)

Municipal Employees Retirement System of Michigan boosted its position in Accenture PLC (NYSE:ACN) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 20,020 shares of the information technology services provider’s stock after buying an additional 150 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Accenture PLC were worth $2,400,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ACN. Bank of New York Mellon Corp boosted its stake in Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock worth $1,667,243,000 after buying an additional 625,381 shares during the period. Norges Bank bought a new position in shares of Accenture PLC during the fourth quarter worth about $649,544,000. WCM Investment Management CA raised its position in shares of Accenture PLC by 5.3% in the first quarter. WCM Investment Management CA now owns 4,571,949 shares of the information technology services provider’s stock worth $548,085,000 after buying an additional 231,700 shares in the last quarter. Polen Capital Management LLC raised its position in shares of Accenture PLC by 7.9% in the first quarter. Polen Capital Management LLC now owns 4,413,852 shares of the information technology services provider’s stock worth $529,133,000 after buying an additional 324,386 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Accenture PLC by 0.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,645,348 shares of the information technology services provider’s stock worth $426,979,000 after buying an additional 25,957 shares in the last quarter. 77.35% of the stock is currently owned by institutional investors and hedge funds.

Accenture PLC (NYSE ACN) opened at 128.54 on Friday. The firm has a 50 day moving average of $125.43 and a 200 day moving average of $121.08. Accenture PLC has a one year low of $108.83 and a one year high of $128.76. The firm has a market capitalization of $79.44 billion, a PE ratio of 22.76 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the previous year, the firm earned $1.41 EPS. Accenture PLC’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Accenture PLC will post $5.90 EPS for the current year.

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A number of equities analysts recently issued reports on the stock. Berenberg Bank set a $140.00 target price on shares of Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) lowered shares of Accenture PLC from a “neutral” rating to a “sell” rating and set a $110.00 target price for the company. in a research report on Monday, April 3rd. Credit Suisse Group reiterated a “hold” rating and issued a $124.00 target price on shares of Accenture PLC in a research report on Friday, March 24th. BMO Capital Markets increased their target price on shares of Accenture PLC to $125.00 in a research report on Friday, March 24th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $130.71.

In related news, CEO Pierre Nanterme sold 40,134 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $123.02, for a total value of $4,937,284.68. Following the completion of the transaction, the chief executive officer now directly owns 222,362 shares in the company, valued at approximately $27,354,973.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the completion of the transaction, the general counsel now owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders sold a total of 74,657 shares of company stock valued at $9,175,628 over the last quarter. 0.21% of the stock is owned by insiders.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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