Accenture Plc (NYSE:ACN) Holdings Cut by Putnam FL Investment Management Co.

Putnam FL Investment Management Co. trimmed its stake in shares of Accenture Plc (NYSE:ACN) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,527 shares of the information technology services provider’s stock after selling 3,822 shares during the period. Accenture accounts for 1.9% of Putnam FL Investment Management Co.’s holdings, making the stock its 9th biggest position. Putnam FL Investment Management Co.’s holdings in Accenture were worth $23,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lenox Wealth Advisors LLC lifted its stake in shares of Accenture by 297.1% in the second quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock worth $25,000 after buying an additional 101 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Accenture in the first quarter worth about $27,000. Financial Gravity Wealth Inc. purchased a new position in shares of Accenture in the first quarter worth about $30,000. Semmax Financial Advisors Inc. purchased a new position in shares of Accenture in the first quarter worth about $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Accenture by 455.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock worth $33,000 after buying an additional 155 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.

In other Accenture news, insider Richard Lumb sold 18,000 shares of Accenture stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $172.82, for a total transaction of $3,110,760.00. Following the completion of the sale, the insider now directly owns 90,536 shares in the company, valued at $15,646,431.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paula A. Price sold 645 shares of Accenture stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $194.24, for a total transaction of $125,284.80. Following the sale, the director now owns 6,716 shares of the company’s stock, valued at $1,304,515.84. The disclosure for this sale can be found here. Insiders have sold 36,147 shares of company stock worth $6,597,288 over the last ninety days. 0.18% of the stock is owned by insiders.

Several equities analysts have recently weighed in on ACN shares. Bank of America raised their price target on shares of Accenture from $182.00 to $186.00 and gave the stock a “neutral” 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 stock a “positive” rating in a research note on Friday, June 28th. Argus raised their price target on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Deutsche Bank raised their price target on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, UBS Group set a $190.00 price target on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $192.38.

ACN stock traded up $2.15 during trading on Tuesday, reaching $187.70. 705,852 shares of the stock were exchanged, compared to its average volume of 1,527,248. The stock has a 50 day simple moving average of $190.95. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $197.47. The stock has a market cap of $129.70 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04.

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

Accenture Profile

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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