Accenture Plc (NYSE:ACN) Shares Sold by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH cut its position in shares of Accenture Plc (NYSE:ACN) by 24.1% in the second quarter, Holdings Channel reports. The firm owned 100,512 shares of the information technology services provider’s stock after selling 31,910 shares during the period. Accenture accounts for 3.4% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 6th largest holding. North Point Portfolio Managers Corp OH’s holdings in Accenture were worth $18,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC raised its stake in shares of Accenture by 23.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,270,138 shares of the information technology services provider’s stock valued at $1,103,668,000 after acquiring an additional 1,173,313 shares in the last quarter. Railway Pension Investments Ltd acquired a new stake in Accenture in the 2nd quarter valued at approximately $15,355,000. The Manufacturers Life Insurance Company grew its holdings in shares of Accenture by 71.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,338,821 shares of the information technology services provider’s stock worth $235,659,000 after purchasing an additional 557,879 shares in the last quarter. Swedbank grew its holdings in shares of Accenture by 87.2% during the 1st quarter. Swedbank now owns 1,022,838 shares of the information technology services provider’s stock worth $180,040,000 after purchasing an additional 476,357 shares in the last quarter. Finally, Comgest Global Investors S.A.S. grew its holdings in shares of Accenture by 119.4% during the 1st quarter. Comgest Global Investors S.A.S. now owns 861,824 shares of the information technology services provider’s stock worth $151,698,000 after purchasing an additional 468,941 shares in the last quarter. 69.57% of the stock is owned by institutional investors.

Several analysts have recently weighed in on ACN shares. BMO Capital Markets lifted their price objective on Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a report on Friday, June 28th. Citigroup boosted their price target on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Credit Suisse Group set a $180.00 price target on Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. Deutsche Bank boosted their price target on Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Bank of America boosted their price target on Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $192.38.



ACN traded up $2.85 during trading on Friday, hitting $192.42. The company’s stock had a trading volume of 890,244 shares, compared to its average volume of 1,649,386. The firm’s 50 day moving average price is $192.01 and its two-hundred day moving average price is $177.43. Accenture Plc has a 12 month low of $132.63 and a 12 month high of $197.47. The stock has a market capitalization of $129.61 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that Accenture Plc will post 7.33 earnings per share for the current year.

In other news, CEO David Rowland sold 2,255 shares of the business’s stock in a transaction on 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 owns 25,078 shares in the company, valued at $4,865,884.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Chad T. Jerdee sold 3,247 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $186.34, for a total value of $605,045.98. Following the sale, the general counsel now owns 13,271 shares of the company’s stock, valued at approximately $2,472,918.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,760 shares of company stock valued at $4,353,328. Corporate insiders own 0.18% of the company’s stock.

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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