Connable Office Inc. Boosts Stake in Accenture PLC (ACN)

Connable Office Inc. grew its holdings in Accenture PLC (NYSE:ACN) by 474.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,686 shares of the information technology services provider’s stock after acquiring an additional 8,825 shares during the quarter. Connable Office Inc.’s holdings in Accenture PLC were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Accenture PLC by 6.2% in the first 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 acquiring an additional 2,749,896 shares during the period. BlackRock Inc. boosted its position in shares of Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after acquiring an additional 37,700,871 shares during the period. State Street Corp boosted its position in shares of Accenture PLC by 2.7% in the first 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 acquiring an additional 665,860 shares during the period. Wellington Management Group LLP boosted its position in shares of Accenture PLC by 8.8% in the first 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 acquiring an additional 1,738,262 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Accenture PLC by 4.7% in the first 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 acquiring an additional 625,381 shares during the period. 77.80% of the stock is owned by institutional investors.

In other news, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the transaction, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $129.26, for a total value of $284,372.00. Following the transaction, the insider now directly owns 119,013 shares of the company’s stock, valued at approximately $15,383,620.38. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock valued at $9,920,929 in the last three months. 0.21% of the stock is owned by insiders.

Several equities research analysts have recently weighed in on the company. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 6th. Cowen and Company reissued a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Friday, July 28th. BidaskClub lowered Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Robert W. Baird restated a “neutral” rating and issued a $138.00 target price (up from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $131.53.

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Shares of Accenture PLC (NYSE:ACN) opened at 133.72 on Monday. Accenture PLC has a one year low of $108.83 and a one year high of $134.97. The company has a market cap of $82.64 billion, a PE ratio of 23.68 and a beta of 1.11. The stock’s 50 day moving average price is $129.45 and its 200 day moving average price is $124.30.

Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Accenture PLC’s revenue was up 5.1% on a year-over-year basis. Equities 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.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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