Accenture Plc (NYSE:ACN) Shares Sold by Lakeview Capital Partners LLC

Lakeview Capital Partners LLC decreased its holdings in Accenture Plc (NYSE:ACN) by 14.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,273 shares of the information technology services provider’s stock after selling 369 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Accenture were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ACN. EULAV Asset Management grew its position in Accenture by 31.1% during the 2nd quarter. EULAV Asset Management now owns 167,800 shares of the information technology services provider’s stock worth $31,004,000 after purchasing an additional 39,800 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in Accenture during the 2nd quarter worth approximately $202,000. GWM Advisors LLC grew its position in Accenture by 1.3% during the 2nd quarter. GWM Advisors LLC now owns 90,437 shares of the information technology services provider’s stock worth $16,710,000 after purchasing an additional 1,163 shares in the last quarter. Cedar Capital LLC grew its position in Accenture by 26.2% during the 2nd quarter. Cedar Capital LLC now owns 16,516 shares of the information technology services provider’s stock worth $3,052,000 after purchasing an additional 3,434 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Accenture by 1.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 23,110 shares of the information technology services provider’s stock worth $4,270,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 69.77% of the company’s stock.

Shares of NYSE:ACN traded up $0.31 during trading on Tuesday, reaching $195.18. 24,129 shares of the company traded hands, compared to its average volume of 1,753,020. The firm has a fifty day simple moving average of $192.81 and a 200 day simple moving average of $177.76. The firm has a market cap of $129.86 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04. Accenture Plc has a 1-year low of $132.63 and a 1-year high of $197.47.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the business posted $1.79 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that Accenture Plc will post 7.33 EPS for the current fiscal year.

In related news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total value of $970,000.00. Following the completion of the sale, the insider now owns 36,713 shares of the company’s stock, valued at approximately $7,122,322. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,247 shares of Accenture stock in a transaction 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 completion of the sale, the general counsel now directly owns 13,271 shares of the company’s stock, valued at approximately $2,472,918.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,760 shares of company stock valued at $4,353,328. 0.18% of the stock is owned by company insiders.

ACN has been the topic of several research analyst reports. Wells Fargo & Co lifted their price objective on shares of Accenture from $193.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. UBS Group set a $190.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research report on Friday, June 28th. Deutsche Bank lifted their price objective on shares of Accenture from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets lifted their price objective on shares of Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a research report on Friday, June 28th. Finally, Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Accenture currently has a consensus rating of “Buy” and a consensus target price of $192.38.

Accenture Company 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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