Tower Research Capital LLC TRC boosted its holdings in Accenture Plc (NYSE:ACN) by 92.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,213 shares of the information technology services provider’s stock after purchasing an additional 2,028 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Accenture were worth $645,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of ACN. Jacobi Capital Management LLC grew its position in shares of Accenture by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Accenture during the third quarter valued at about $187,000. Monroe Bank & Trust MI grew its position in shares of Accenture by 27.8% during the third quarter. Monroe Bank & Trust MI now owns 1,646 shares of the information technology services provider’s stock valued at $193,000 after purchasing an additional 358 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Accenture during the fourth quarter valued at about $201,000. Finally, Sii Investments Inc. WI purchased a new position in shares of Accenture during the second quarter valued at about $202,000. Institutional investors and hedge funds own 74.64% of the company’s stock.
Shares of Accenture Plc (ACN) opened at $161.44 on Wednesday. The stock has a market cap of $103,334.33, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.45 and a beta of 1.05. Accenture Plc has a 12 month low of $114.82 and a 12 month high of $163.60.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. equities analysts anticipate that Accenture Plc will post 6.65 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on ACN. Pivotal Research set a $180.00 price objective on Accenture and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research report on Wednesday, December 27th. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $159.00 to $140.00 in a research report on Monday, February 5th. Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Accenture in a report on Thursday, December 14th. Finally, Credit Suisse Group set a $165.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. Accenture has a consensus rating of “Hold” and a consensus target price of $156.57.
In other Accenture news, CAO Richard P. Clark sold 1,433 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total value of $226,944.21. Following the completion of the sale, the chief accounting officer now owns 8,932 shares of the company’s stock, valued at $1,414,560.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 34,232 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the completion of the sale, the chief executive officer now directly owns 262,490 shares of the company’s stock, valued at approximately $40,145,220.60. The disclosure for this sale can be found here. In the last three months, insiders sold 117,249 shares of company stock valued at $18,106,228. 0.21% of the stock is owned by insiders.
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Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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