Cadinha & Co. LLC Acquires 992 Shares of Accenture PLC (ACN)
Cadinha & Co. LLC boosted its holdings in shares of Accenture PLC (NYSE:ACN) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,240 shares of the information technology services provider’s stock after acquiring an additional 992 shares during the quarter. Accenture PLC makes up approximately 2.1% of Cadinha & Co. LLC’s portfolio, making the stock its 18th largest holding. Cadinha & Co. LLC’s holdings in Accenture PLC were worth $11,903,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ACN. Coconut Grove Bank raised its position in shares of 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 purchasing an additional 364 shares during the period. Bellwether Investment Group LLC raised its position in shares of 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 purchasing an additional 359 shares during the period. Parkside Financial Bank & Trust raised its position in shares of 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 purchasing an additional 19 shares during the period. Opera Trading Capital bought a new position in shares of Accenture PLC in the first quarter valued at approximately $119,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Accenture PLC in the first quarter valued at approximately $122,000. 77.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Accenture PLC (NYSE:ACN) opened at 133.72 on Monday. The firm’s 50-day moving average is $129.45 and its 200-day moving average is $124.30. 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 1-year low of $108.83 and a 1-year high of $134.97.
Accenture PLC (NYSE:ACN) last released 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. The company had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. Accenture PLC’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, analysts anticipate that Accenture PLC will post $5.90 EPS for the current fiscal year.
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In related news, General Counsel Chad T. Jerdee sold 3,200 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.26, for a total value of $284,372.00. Following the completion of the sale, the insider now directly owns 119,013 shares in the company, valued at $15,383,620.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on ACN shares. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Monday, August 28th. 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 research report on Wednesday, June 28th. SunTrust Banks, Inc. lowered shares of Accenture PLC from a “buy” rating to a “hold” rating and lifted their price target 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 price target on shares of Accenture PLC in a research report on Monday, May 29th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $130.00 price target (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $131.53.
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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