Montag & Caldwell LLC Sells 524,288 Shares of Accenture PLC (ACN)
Montag & Caldwell LLC cut its stake in shares of Accenture PLC (NYSE:ACN) by 36.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 933,046 shares of the company’s stock after selling 524,288 shares during the period. Accenture PLC makes up 2.2% of Montag & Caldwell LLC’s portfolio, making the stock its 24th largest position. Montag & Caldwell LLC owned about 0.15% of Accenture PLC worth $105,705,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Accenture PLC during the second quarter valued at approximately $116,516,000. NN Investment Partners Holdings N.V. purchased a new position in Accenture PLC during the first quarter valued at approximately $56,722,000. Prudential Financial Inc. boosted its position in Accenture PLC by 39.5% in the first quarter. Prudential Financial Inc. now owns 1,621,545 shares of the company’s stock valued at $187,125,000 after buying an additional 459,510 shares during the period. Geode Capital Management LLC boosted its position in Accenture PLC by 7.7% in the first quarter. Geode Capital Management LLC now owns 5,524,658 shares of the company’s stock valued at $636,356,000 after buying an additional 394,256 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Accenture PLC by 10.2% in the first quarter. UBS Asset Management Americas Inc. now owns 3,570,115 shares of the company’s stock valued at $411,991,000 after buying an additional 329,656 shares during the period. 77.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Accenture PLC (NYSE:ACN) traded down 2.54% during mid-day trading on Tuesday, reaching $117.79. The company had a trading volume of 2,931,140 shares. Accenture PLC has a one year low of $91.40 and a one year high of $124.96. The firm has a market capitalization of $73.33 billion, a price-to-earnings ratio of 18.26 and a beta of 1.24. The stock has a 50 day moving average of $114.07 and a 200-day moving average of $114.76.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.01. The company earned $8.49 billion during the quarter. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Equities analysts predict that Accenture PLC will post $5.93 EPS for the current year.
ACN has been the subject of several recent research reports. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Citigroup Inc. increased their target price on Accenture PLC from $115.50 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday, September 28th. Cantor Fitzgerald reissued a “buy” rating on shares of Accenture PLC in a report on Monday, July 18th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Accenture PLC in a report on Tuesday, July 19th. Finally, Morgan Stanley reissued a “hold” rating and issued a $120.00 target price on shares of Accenture PLC in a report on Wednesday, September 21st. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $124.75.
In other news, General Counsel Chad T. Jerdee sold 4,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $113.35, for a total transaction of $453,400.00. Following the completion of the transaction, the general counsel now directly owns 28,755 shares in the company, valued at $3,259,379.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel T. London sold 3,686 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $115.57, for a total transaction of $425,991.02. Following the transaction, the insider now owns 26,023 shares of the company’s stock, valued at $3,007,478.11. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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