First Merchants Corp Increases Position in Accenture PLC (ACN)
First Merchants Corp boosted its position in shares of Accenture PLC (NYSE:ACN) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 37,333 shares of the information technology services provider’s stock after buying an additional 184 shares during the period. Accenture PLC comprises about 1.3% of First Merchants Corp’s portfolio, making the stock its 14th largest position. First Merchants Corp’s holdings in Accenture PLC were worth $4,617,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Coconut Grove Bank boosted its position in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the last quarter. Bellwether Investment Group LLC boosted its position in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after buying an additional 359 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after buying an additional 19 shares during the last quarter. Opera Trading Capital bought a new position in Accenture PLC during the first quarter valued at approximately $119,000. Finally, Harbour Capital Advisors LLC bought a new position in Accenture PLC during the first quarter valued at approximately $122,000. 76.88% of the stock is owned by institutional investors and hedge funds.
Shares of Accenture PLC (NYSE:ACN) opened at 129.39 on Friday. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67. The stock has a market capitalization of $79.96 billion, a P/E ratio of 22.91 and a beta of 1.11. The stock has a 50 day moving average price of $128.12 and a 200 day moving average price of $123.50.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, equities analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
ACN has been the subject of several analyst reports. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the stock a “hold” rating in a research note on Friday, June 16th. Robert W. Baird reissued a “neutral” rating and set a $138.00 target price (up from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Cowen and Company boosted their target price 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 reissued a “buy” rating and set a $135.00 target price on shares of Accenture PLC in a research note on Monday, May 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $130.71.
In other news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.26, for a total transaction of $284,372.00. Following the completion of the transaction, the insider now owns 119,013 shares of the company’s stock, valued at $15,383,620.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Pierre Nanterme sold 40,134 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $123.02, for a total transaction of $4,937,284.68. Following the transaction, the chief executive officer now directly owns 222,362 shares of the company’s stock, valued at approximately $27,354,973.24. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 in the last ninety days. 0.21% of the stock is owned by company insiders.
Accenture PLC Company Profile
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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