HBK Sorce Advisory LLC Sells 4,567 Shares of Accenture Plc (NYSE:ACN)

HBK Sorce Advisory LLC cut its holdings in shares of Accenture Plc (NYSE:ACN) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,482 shares of the information technology services provider’s stock after selling 4,567 shares during the quarter. Accenture makes up 0.8% of HBK Sorce Advisory LLC’s portfolio, making the stock its 24th largest position. HBK Sorce Advisory LLC’s holdings in Accenture were worth $8,588,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Highland Private Wealth Management increased its stake in shares of Accenture by 4.8% during the 2nd quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 66 shares during the last quarter. Brandywine Oak Private Wealth LLC acquired a new position in shares of Accenture during the 2nd quarter worth about $207,000. Private Trust Co. NA increased its stake in shares of Accenture by 1.6% during the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock worth $672,000 after purchasing an additional 57 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Accenture by 17.3% during the 2nd quarter. GSA Capital Partners LLP now owns 4,689 shares of the information technology services provider’s stock worth $866,000 after purchasing an additional 690 shares during the last quarter. Finally, Monetary Management Group Inc. increased its stake in shares of Accenture by 543.3% during the 1st quarter. Monetary Management Group Inc. now owns 9,650 shares of the information technology services provider’s stock worth $1,699,000 after purchasing an additional 8,150 shares during the last quarter. 69.84% of the stock is currently owned by hedge funds and other institutional investors.

In other Accenture news, General Counsel Chad T. Jerdee sold 3,247 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were 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 in the company, valued at approximately $2,472,918.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $196.95, for a total transaction of $393,900.00. Following the transaction, the insider now owns 73,548 shares in the company, valued at approximately $14,485,278.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,760 shares of company stock worth $4,353,328. 0.18% of the stock is owned by company insiders.

ACN has been the topic of several recent analyst reports. Deutsche Bank boosted their price objective on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Co boosted their price objective on shares of Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Argus boosted their price objective on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. UBS Group set a $190.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Credit Suisse Group set a $180.00 price target on shares of Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $199.06.

ACN traded down $1.58 on Friday, reaching $193.09. The company had a trading volume of 2,415,847 shares, compared to its average volume of 1,834,441. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80. The stock has a market cap of $130.81 billion, a P/E ratio of 28.65, a P/E/G ratio of 2.37 and a beta of 1.04. The company’s fifty day moving average is $194.21 and its 200 day moving average is $183.55.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the business earned $1.79 EPS. Accenture’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

About Accenture

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.

Further Reading: Purposes and Functions of the Federal Reserve

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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.