Seaward Management Limited Partnership Sells 300 Shares of Accenture PLC (ACN)
Seaward Management Limited Partnership trimmed its holdings in shares of Accenture PLC (NYSE:ACN) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,157 shares of the information technology services provider’s stock after selling 300 shares during the quarter. Seaward Management Limited Partnership’s holdings in Accenture PLC were worth $7,811,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in ACN. Vanguard Group Inc. increased its holdings in Accenture PLC by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after buying an additional 2,749,896 shares during the period. BlackRock Inc. increased its holdings 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 period. State Street Corp increased its holdings 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 period. Wellington Management Group LLP increased its holdings 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 period. Finally, Bank of New York Mellon Corp increased its holdings 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 period. 77.80% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Gianfranco Casati sold 6,836 shares of the firm’s 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 $840,622.92. Following the transaction, the insider now owns 61,714 shares in the company, valued at $7,588,970.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $393,504.00. Following the completion of the transaction, the general counsel now owns 18,566 shares in the company, valued at approximately $2,283,061.02. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock worth $9,920,929 in the last 90 days. Company insiders own 0.21% of the company’s stock.
Several equities analysts have commented on ACN shares. Stifel Nicolaus raised their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday. BidaskClub lowered shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley set a $132.00 price target on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $138.00 price target (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, Cowen and Company lifted their price target on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Accenture PLC presently has a consensus rating of “Buy” and a consensus price target of $131.53.
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Accenture PLC (ACN) opened at 133.72 on Friday. The firm has a market cap of $82.64 billion, a P/E ratio of 23.68 and a beta of 1.11. Accenture PLC has a 12 month low of $108.83 and a 12 month high of $134.97. The stock has a 50 day moving average of $129.45 and a 200-day moving average of $124.30.
Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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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