Spears Abacus Advisors LLC Purchases Shares of 2,165 Accenture PLC (NYSE:ACN)
Spears Abacus Advisors LLC purchased a new stake in shares of Accenture PLC (NYSE:ACN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,165 shares of the information technology services provider’s stock, valued at approximately $260,000.
Other hedge funds have also bought and sold shares of the company. GLG LLC boosted its stake in shares of Accenture PLC by 6.8% in the fourth quarter. GLG LLC now owns 21,777 shares of the information technology services provider’s stock worth $2,551,000 after buying an additional 1,384 shares during the last quarter. Sciencast Management LP bought a new position in Accenture PLC during the fourth quarter valued at approximately $298,000. NWQ Investment Management Company LLC acquired a new position in shares of Accenture PLC during the fourth quarter worth about $293,000. Pacific Global Investment Management CO raised its position in shares of Accenture PLC by 27.4% in the fourth quarter. Pacific Global Investment Management CO now owns 4,078 shares of the information technology services provider’s stock worth $478,000 after buying an additional 878 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Accenture PLC by 29,795.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 518,381 shares of the information technology services provider’s stock worth $60,718,000 after buying an additional 516,647 shares during the last quarter. Institutional investors own 77.44% of the company’s stock.
Shares of Accenture PLC (NYSE:ACN) traded up 0.14% during mid-day trading on Friday, hitting $130.20. The company’s stock had a trading volume of 1,283,185 shares. The company has a market cap of $80.46 billion, a price-to-earnings ratio of 23.06 and a beta of 1.11. The company has a 50-day moving average of $126.05 and a 200 day moving average of $121.87. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.67.
Accenture PLC (NYSE:ACN) last posted its 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. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Accenture PLC will post $5.90 EPS for the current year.
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Several equities research analysts recently issued reports on ACN shares. BidaskClub lowered Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the company a “hold” rating in a research note on Friday, June 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $138.00 target price (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Cowen and Company increased their price objective on Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $130.71.
In related news, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the insider now owns 56,014 shares of the company’s stock, valued at $7,281,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total value of $266,332.00. Following the sale, the insider now directly owns 121,710 shares in the company, valued at approximately $14,734,212.60. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock worth $9,902,889 in the last ninety days. 0.21% of the stock is owned by company insiders.
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.
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