Alera Investment Advisors LLC Sells 155 Shares of Accenture Plc (NYSE:ACN)

Alera Investment Advisors LLC decreased its position in Accenture Plc (NYSE:ACN) by 29.0% in the 1st quarter, HoldingsChannel reports. The fund owned 380 shares of the information technology services provider’s stock after selling 155 shares during the period. Alera Investment Advisors LLC’s holdings in Accenture were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Andra AP fonden acquired a new position in Accenture in the 1st quarter valued at approximately $8,783,000. GWM Advisors LLC raised its holdings in Accenture by 9.4% in the 1st quarter. GWM Advisors LLC now owns 89,274 shares of the information technology services provider’s stock valued at $15,714,000 after acquiring an additional 7,634 shares in the last quarter. Williams Jones & Associates LLC raised its holdings in Accenture by 7.5% in the 1st quarter. Williams Jones & Associates LLC now owns 509,852 shares of the information technology services provider’s stock valued at $89,744,000 after acquiring an additional 35,395 shares in the last quarter. KC Investment Advisors LLC raised its holdings in Accenture by 3.1% in the 1st quarter. KC Investment Advisors LLC now owns 2,335 shares of the information technology services provider’s stock valued at $411,000 after acquiring an additional 70 shares in the last quarter. Finally, Neuburgh Advisers LLC raised its holdings in Accenture by 12.5% in the 1st quarter. Neuburgh Advisers LLC now owns 31,008 shares of the information technology services provider’s stock valued at $5,458,000 after acquiring an additional 3,434 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on ACN shares. Wells Fargo & Co upped their price target on Accenture from $165.00 to $181.00 and gave the company an “in-line” rating in a report on Wednesday, March 20th. Zacks Investment Research cut Accenture from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. UBS Group set a $180.00 target price on Accenture and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, KeyCorp increased their target price on Accenture from $173.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, March 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $185.11.

In related news, insider Richard Lumb sold 18,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $181.19, for a total transaction of $3,261,420.00. Following the sale, the insider now directly owns 95,215 shares in the company, valued at approximately $17,252,005.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total value of $1,422,240.00. Following the sale, the insider now owns 116,753 shares in the company, valued at $20,756,348.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,919 shares of company stock worth $11,695,852. 0.18% of the stock is owned by corporate insiders.

NYSE ACN opened at $184.97 on Friday. The company has a market cap of $124.04 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. Accenture Plc has a one year low of $132.63 and a one year high of $186.68.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.16. The business had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.30 billion. Accenture had a return on equity of 38.57% and a net margin of 10.52%. Accenture’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. On average, analysts anticipate that Accenture Plc will post 7.29 earnings per share for the current year.

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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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