Compton Capital Management Inc. RI Sells 100 Shares of Accenture Plc (NYSE:ACN)

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Compton Capital Management Inc. RI reduced its position in Accenture Plc (NYSE:ACN) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,752 shares of the information technology services provider’s stock after selling 100 shares during the quarter. Compton Capital Management Inc. RI’s holdings in Accenture were worth $1,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ACN. Lazard Asset Management LLC increased its holdings in Accenture by 23.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,270,138 shares of the information technology services provider’s stock valued at $1,103,668,000 after buying an additional 1,173,313 shares during the period. Railway Pension Investments Ltd acquired a new stake in shares of Accenture in the 2nd quarter valued at approximately $15,355,000. Prudential Financial Inc. boosted its stake in shares of Accenture by 70.0% in the 2nd quarter. Prudential Financial Inc. now owns 1,732,160 shares of the information technology services provider’s stock valued at $320,051,000 after purchasing an additional 713,027 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Accenture by 71.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,338,821 shares of the information technology services provider’s stock valued at $235,659,000 after purchasing an additional 557,879 shares in the last quarter. Finally, Comgest Global Investors S.A.S. boosted its stake in shares of Accenture by 119.4% in the 1st quarter. Comgest Global Investors S.A.S. now owns 861,824 shares of the information technology services provider’s stock valued at $151,698,000 after purchasing an additional 468,941 shares in the last quarter. 69.88% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ACN traded down $0.90 during mid-day trading on Friday, hitting $194.62. 1,462,931 shares of the company’s stock were exchanged, compared to its average volume of 1,832,679. The company has a 50 day simple moving average of $194.49 and a 200-day simple moving average of $182.43. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $202.80. The firm has a market capitalization of $128.59 billion, a P/E ratio of 28.88, a PEG ratio of 2.33 and a beta of 1.04.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same period last year, the company earned $1.79 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that Accenture Plc will post 7.33 earnings per share for the current year.

In related news, General Counsel Chad T. Jerdee sold 3,247 shares of Accenture stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $186.34, for a total transaction of $605,045.98. Following the sale, the general counsel now directly owns 13,271 shares in the company, valued at approximately $2,472,918.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Rowland sold 2,330 shares of Accenture stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $187.78, for a total transaction of $437,527.40. Following the sale, the chief executive officer now owns 24,318 shares in the company, valued at $4,566,434.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,760 shares of company stock worth $4,353,328. 0.18% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on ACN shares. Citigroup raised their price target on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. BMO Capital Markets raised their price target on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a research note on Friday, June 28th. Bank of America raised their price target on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. Wells Fargo & Co raised their price target on shares of Accenture from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Credit Suisse Group set a $180.00 price target on shares of Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Accenture currently has a consensus rating of “Buy” and a consensus target price of $197.25.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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