Westwood Holdings Group Inc. lowered its stake in Accenture Plc (NYSE:ACN) by 10.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,992 shares of the information technology services provider’s stock after selling 63,864 shares during the quarter. Westwood Holdings Group Inc. owned about 0.09% of Accenture worth $87,339,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ACN. BlackRock Inc. raised its stake in shares of Accenture by 7.2% in the first quarter. BlackRock Inc. now owns 42,348,766 shares of the information technology services provider’s stock worth $6,500,537,000 after buying an additional 2,861,472 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in shares of Accenture by 261.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,792,124 shares of the information technology services provider’s stock worth $580,537,000 after buying an additional 2,743,482 shares during the period. Wells Fargo & Company MN raised its stake in shares of Accenture by 54.1% in the fourth quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock worth $1,068,260,000 after buying an additional 2,450,772 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Accenture by 656.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 957,614 shares of the information technology services provider’s stock worth $146,994,000 after buying an additional 830,948 shares during the period. Finally, Swedbank bought a new position in shares of Accenture in the fourth quarter worth about $90,670,000. 73.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on ACN shares. Sanford C. Bernstein started coverage on Accenture in a research note on Wednesday, March 28th. They issued an “outperform” rating and a $180.00 price objective on the stock. Pivotal Research set a $180.00 price objective on Accenture and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Robert W. Baird lifted their target price on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. Wedbush reissued an “outperform” rating and set a $180.00 target price (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Finally, ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $161.37.
NYSE ACN opened at $162.71 on Thursday. The company has a market cap of $101.59 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.39 and a beta of 1.03. Accenture Plc has a 1-year low of $119.10 and a 1-year high of $165.58.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.31 billion. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. equities research analysts expect that Accenture Plc will post 6.69 earnings per share for the current fiscal year.
In other Accenture news, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total transaction of $312,200.00. Following the completion of the transaction, the insider now owns 120,025 shares in the company, valued at approximately $18,735,902.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Pierre Nanterme sold 36,858 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $150.80, for a total value of $5,558,186.40. Following the transaction, the chief executive officer now owns 357,405 shares of the company’s stock, valued at approximately $53,896,674. The disclosure for this sale can be found here. Insiders have sold a total of 53,828 shares of company stock valued at $8,145,630 in the last 90 days. 0.21% of the stock is currently owned by company insiders.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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