Accenture Plc (ACN) Position Raised by Brighton Jones LLC
Brighton Jones LLC boosted its position in Accenture Plc (NYSE:ACN) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,996 shares of the information technology services provider’s stock after purchasing an additional 365 shares during the period. Brighton Jones LLC’s holdings in Accenture were worth $2,290,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. WP Advisors LLC acquired a new stake in Accenture during the second quarter worth approximately $106,000. BDO Wealth Advisors LLC lifted its position in Accenture by 105.3% during the first quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock worth $113,000 after acquiring an additional 379 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Accenture during the second quarter worth approximately $118,000. Penserra Capital Management LLC acquired a new stake in Accenture during the first quarter worth approximately $127,000. Finally, Well Done LLC acquired a new stake in Accenture during the first quarter worth approximately $161,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.
Several equities research analysts have issued reports on ACN shares. Cantor Fitzgerald restated a “buy” rating and set a $180.00 price objective on shares of Accenture in a research report on Wednesday, April 25th. Pivotal Research restated a “buy” rating and set a $180.00 price objective on shares of Accenture in a research report on Thursday, April 26th. Credit Suisse Group set a $151.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Tuesday, May 22nd. Finally, UBS Group upgraded shares of Accenture from a “neutral” rating to a “positive” rating in a research report on Tuesday, June 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $162.11.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 28th. The information technology services provider reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.07. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The company had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.04 billion. During the same period last year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. research analysts predict that Accenture Plc will post 6.71 EPS for the current fiscal year.
In related news, insider Daniel T. London sold 1,930 shares of Accenture stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $160.36, for a total value of $309,494.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Pierre Nanterme sold 32,376 shares of Accenture stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.39, for a total transaction of $5,257,538.64. The disclosure for this sale can be found here. Insiders sold 52,357 shares of company stock worth $8,543,392 over the last three months. 0.21% of the stock is currently owned by insiders.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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