Pinebridge Investments L.P. Sells 110,172 Shares of Accenture Plc (ACN)

Pinebridge Investments L.P. cut its stake in Accenture Plc (NYSE:ACN) by 89.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,632 shares of the information technology services provider’s stock after selling 110,172 shares during the period. Pinebridge Investments L.P.’s holdings in Accenture were worth $1,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ACN. Flagship Harbor Advisors LLC raised its position in Accenture by 0.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,917 shares of the information technology services provider’s stock worth $362,000 after buying an additional 12 shares during the last quarter. AlphaMark Advisors LLC raised its position in Accenture by 0.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,319 shares of the information technology services provider’s stock worth $287,000 after buying an additional 20 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Accenture by 1.4% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,801 shares of the information technology services provider’s stock worth $223,000 after buying an additional 24 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Accenture by 5.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock worth $127,000 after buying an additional 52 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after buying an additional 60 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Shares of Accenture Plc (NYSE ACN) traded down $0.48 during midday trading on Friday, reaching $153.09. 1,452,063 shares of the company traded hands, compared to its average volume of 1,968,247. Accenture Plc has a 12 month low of $112.31 and a 12 month high of $158.44. The stock has a market cap of $101,349.76, a price-to-earnings ratio of 27.10, a PEG ratio of 2.31 and a beta of 1.08.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The company had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. sell-side analysts anticipate that Accenture Plc will post 6.64 EPS for the current fiscal year.

A number of equities analysts have issued reports on the stock. KeyCorp raised their price target on shares of Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a research report on Saturday. Barclays lifted their target price on shares of Accenture from $135.00 to $152.00 and gave the company an “equal weight” rating in a report on Saturday. Zacks Investment Research lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Friday. Pivotal Research set a $180.00 target price on shares of Accenture and gave the company a “buy” rating in a report on Thursday. Finally, Susquehanna Bancshares reaffirmed a “hold” rating and set a $145.00 target price on shares of Accenture in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $153.40.

In other Accenture news, CFO David Rowland sold 3,702 shares of Accenture stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.04, for a total transaction of $499,918.08. Following the sale, the chief financial officer now owns 9,864 shares of the company’s stock, valued at approximately $1,332,034.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Lumb sold 2,200 shares of Accenture stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $135.06, for a total transaction of $297,132.00. Following the sale, the insider now directly owns 118,085 shares in the company, valued at approximately $15,948,560.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,557 shares of company stock worth $17,479,167. 0.21% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This report was originally posted by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://weekherald.com/2017/12/30/pinebridge-investments-l-p-sells-110172-shares-of-accenture-plc-acn.html.

About Accenture

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 (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply