ING Groep NV grew its stake in Accenture (NYSE:ACN) by 368.4% in the first quarter, Holdings Channel reports. The institutional investor owned 69,229 shares of the information technology services provider’s stock after buying an additional 54,448 shares during the quarter. ING Groep NV’s holdings in Accenture were worth $10,627,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Farmers National Bank bought a new position in shares of Accenture in the fourth quarter worth about $107,000. Virtue Capital Management LLC bought a new position in shares of Accenture in the fourth quarter worth about $128,000. Aevitas Wealth Management Inc. bought a new position in shares of Accenture in the fourth quarter worth about $131,000. Wagner Wealth Management LLC bought a new position in shares of Accenture in the fourth quarter worth about $179,000. Finally, Bedel Financial Consulting Inc. bought a new position in shares of Accenture in the first quarter worth about $180,000. 75.18% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on ACN shares. Pivotal Research set a $180.00 price objective on Accenture and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $159.00 to $140.00 in a research note on Monday, February 5th. KeyCorp lifted their price objective on Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a research note on Monday, March 19th. Wedbush restated an “outperform” rating and set a $180.00 price target (up from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Finally, Robert W. Baird boosted their price target on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $161.20.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.31 billion. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. equities research analysts predict that Accenture will post 6.69 EPS for the current fiscal year.
In other news, insider Jean-Marc Ollagnier sold 1,637 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $150.87, for a total value of $246,974.19. Following the transaction, the insider now directly owns 186,112 shares of the company’s stock, valued at approximately $28,078,717.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre Nanterme sold 36,858 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $150.80, for a total value of $5,558,186.40. Following the completion of the transaction, the chief executive officer now directly owns 357,405 shares in the company, valued at $53,896,674. The disclosure for this sale can be found here. Insiders have sold 53,828 shares of company stock worth $8,145,630 over the last ninety days. Company insiders own 0.21% of the company’s stock.
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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