Rational Advisors LLC cut its stake in Accenture PLC (NYSE:ACN) by 88.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,282 shares of the information technology services provider’s stock after selling 9,840 shares during the period. Rational Advisors LLC’s holdings in Accenture PLC were worth $154,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock worth $1,667,243,000 after buying an additional 625,381 shares during the last quarter. FMR LLC raised its stake in Accenture PLC by 11.2% in the fourth quarter. FMR LLC now owns 11,258,236 shares of the information technology services provider’s stock worth $1,318,678,000 after buying an additional 1,129,888 shares during the last quarter. Fiduciary Management Inc. WI raised its stake in Accenture PLC by 1.0% in the fourth quarter. Fiduciary Management Inc. WI now owns 6,805,012 shares of the information technology services provider’s stock worth $797,071,000 after buying an additional 67,897 shares during the last quarter. Norges Bank acquired a new stake in Accenture PLC during the fourth quarter worth about $649,544,000. Finally, WCM Investment Management CA raised its stake in Accenture PLC by 5.3% in the first quarter. WCM Investment Management CA now owns 4,571,949 shares of the information technology services provider’s stock worth $548,085,000 after buying an additional 231,700 shares during the last quarter. 78.57% of the stock is owned by institutional investors.

Accenture PLC (NYSE:ACN) opened at 122.19 on Wednesday. The firm has a 50-day moving average of $123.68 and a 200-day moving average of $120.46. The firm has a market cap of $75.51 billion, a PE ratio of 21.64 and a beta of 1.11. Accenture PLC has a 52-week low of $108.66 and a 52-week high of $128.47.

Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Accenture PLC (ACN) Stake Reduced by Rational Advisors LLC” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.thecerbatgem.com/2017/06/28/accenture-plc-acn-stake-reduced-by-rational-advisors-llc.html.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Cowen and Company reaffirmed an “outperform” rating and set a $131.00 target price on shares of Accenture PLC in a report on Monday, March 27th. Credit Suisse Group reaffirmed a “hold” rating and set a $124.00 target price on shares of Accenture PLC in a report on Friday, March 24th. Finally, Zacks Investment Research lowered shares of Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Accenture PLC has an average rating of “Buy” and a consensus target price of $130.79.

In other news, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $120.00, for a total value of $264,000.00. Following the transaction, the insider now directly owns 122,626 shares of the company’s stock, valued at approximately $14,715,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel T. London sold 697 shares of Accenture PLC stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $117.29, for a total value of $81,751.13. Following the completion of the transaction, the insider now directly owns 27,179 shares in the company, valued at $3,187,824.91. The disclosure for this sale can be found here. Insiders sold a total of 68,754 shares of company stock worth $8,426,857 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

About Accenture PLC

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.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

Receive News & Stock Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related stocks with our FREE daily email newsletter.