Taylor Cottrill Erickson & Associates Inc. lessened its holdings in shares of Accenture Plc (NYSE:ACN) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,944 shares of the information technology services provider’s stock after selling 215 shares during the period. Accenture makes up approximately 1.7% of Taylor Cottrill Erickson & Associates Inc.’s portfolio, making the stock its 13th biggest holding. Taylor Cottrill Erickson & Associates Inc.’s holdings in Accenture were worth $8,489,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lenox Wealth Advisors LLC lifted its position in shares of Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Accenture in the first quarter valued at $27,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Accenture in the first quarter valued at $30,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Accenture in the first quarter valued at $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Accenture by 455.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 155 shares in the last quarter. 69.38% of the stock is currently owned by hedge funds and other institutional investors.
ACN has been the topic of several recent research reports. UBS Group set a $190.00 price objective on Accenture and gave the company a “hold” rating in a research report on Friday, June 28th. Argus upped their price objective on Accenture to $220.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Deutsche Bank upped their price objective on Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Citigroup upped their price objective on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Wells Fargo & Co upped their price objective on Accenture from $193.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average price target of $192.38.
NYSE ACN traded down $0.77 during trading hours on Wednesday, hitting $188.04. 146,832 shares of the company’s stock were exchanged, compared to its average volume of 1,527,248. The stock has a 50 day simple moving average of $191.02. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $197.47. The firm has a market capitalization of $129.70 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.55 and a beta of 1.04.
Accenture (NYSE:ACN) last released its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the prior year, the business posted $1.79 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts expect that Accenture Plc will post 7.33 EPS for the current fiscal year.
In other Accenture news, CEO David Rowland sold 2,255 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $194.03, for a total transaction of $437,537.65. Following the completion of the sale, the chief executive officer now directly owns 25,078 shares in the company, valued at $4,865,884.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $196.95, for a total value of $393,900.00. Following the sale, the insider now owns 73,548 shares of the company’s stock, valued at $14,485,278.60. The disclosure for this sale can be found here. Insiders have sold 40,760 shares of company stock worth $7,464,088 over the last quarter. 0.18% of the stock is currently owned by company insiders.
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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