Novare Capital Management LLC lifted its holdings in shares of Accenture PLC (NYSE:ACN) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,622 shares of the information technology services provider’s stock after purchasing an additional 1,074 shares during the quarter. Novare Capital Management LLC’s holdings in Accenture PLC were worth $5,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Accenture PLC by 6.2% during the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after purchasing an additional 2,749,896 shares during the period. BlackRock Inc. raised its position in Accenture PLC by 2,139.5% in the 1st quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after buying an additional 37,700,871 shares during the last quarter. State Street Corp raised its position in Accenture PLC by 2.7% in the 1st quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after buying an additional 665,860 shares during the last quarter. Wellington Management Group LLP raised its position in Accenture PLC by 8.8% in the 1st quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after buying an additional 1,738,262 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Accenture PLC by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock valued at $1,667,243,000 after buying an additional 625,381 shares during the last quarter. 77.80% of the stock is currently owned by institutional investors.

In related news, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $129.26, for a total transaction of $284,372.00. Following the completion of the sale, the insider now directly 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 is accessible through this hyperlink. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the sale, the general counsel now directly owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

WARNING: This piece of content was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/08/accenture-plc-acn-shares-bought-by-novare-capital-management-llc.html.

Accenture PLC (ACN) opened at 134.24 on Friday. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $134.83. The company has a market capitalization of $82.96 billion, a P/E ratio of 23.77 and a beta of 1.11. The stock’s 50 day moving average price is $129.30 and its 200 day moving average price is $124.24.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings results 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 company had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. Accenture PLC’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.41 earnings per share. Analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current year.

ACN has been the topic of a number of recent research reports. SunTrust Banks, Inc. lowered Accenture PLC from a “buy” rating to a “hold” rating and lifted their target price for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 target price (up previously from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $131.53.

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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN).

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.