Investment Research Partners LLC Takes $662,000 Position in Accenture PLC $ACN

Investment Research Partners LLC acquired a new stake in Accenture PLC (NYSE:ACNFree Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,672 shares of the information technology services provider’s stock, valued at approximately $662,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its holdings in shares of Accenture by 0.9% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock worth $1,089,000 after acquiring an additional 41 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of Accenture by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock valued at $1,108,000 after purchasing an additional 43 shares during the period. Councilmark Asset Management LLC lifted its holdings in Accenture by 0.5% during the 2nd quarter. Councilmark Asset Management LLC now owns 9,344 shares of the information technology services provider’s stock worth $2,793,000 after purchasing an additional 45 shares in the last quarter. Investors Research Corp boosted its stake in Accenture by 73.8% in the 3rd quarter. Investors Research Corp now owns 106 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 45 shares during the period. Finally, Studio Investment Management LLC grew its holdings in Accenture by 3.3% during the 3rd quarter. Studio Investment Management LLC now owns 1,476 shares of the information technology services provider’s stock valued at $364,000 after buying an additional 47 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Down 2.0%

Shares of ACN opened at $194.77 on Thursday. Accenture PLC has a 1 year low of $188.73 and a 1 year high of $326.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50 day simple moving average of $237.56 and a two-hundred day simple moving average of $247.47. The firm has a market cap of $119.90 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.88 and a beta of 1.27.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings results on Thursday, December 18th. The information technology services provider reported $3.94 EPS for the quarter, topping the consensus estimate of $3.73 by $0.21. Accenture had a net margin of 10.76% and a return on equity of 26.65%. The firm had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $18.51 billion. During the same period last year, the firm posted $3.59 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, analysts forecast that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture News Summary

Here are the key news stories impacting Accenture this week:

Analyst Ratings Changes

A number of equities analysts have recently commented on ACN shares. Evercore restated an “outperform” rating and issued a $300.00 price objective on shares of Accenture in a research report on Thursday, December 18th. Guggenheim lowered their target price on shares of Accenture from $305.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Wells Fargo & Company boosted their price target on shares of Accenture from $251.00 to $275.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Argus decreased their price target on shares of Accenture from $370.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, March 6th. Eighteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.19.

Read Our Latest Research Report on Accenture

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 3,588 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $281.01, for a total transaction of $1,008,263.88. Following the transaction, the chief accounting officer directly owned 8,179 shares of the company’s stock, valued at approximately $2,298,380.79. This trade represents a 30.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 1,332 shares of Accenture stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $275.00, for a total value of $366,300.00. Following the completion of the transaction, the general counsel owned 28,207 shares in the company, valued at approximately $7,756,925. This represents a 4.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,088 shares of company stock worth $5,970,434 over the last 90 days. Insiders own 0.02% of the company’s stock.

About Accenture

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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