Korea Investment CORP Boosts Holdings in Accenture Plc (NYSE:ACN)

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Korea Investment CORP lifted its holdings in Accenture Plc (NYSE:ACN) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,124 shares of the information technology services provider’s stock after buying an additional 12,800 shares during the period. Korea Investment CORP owned approximately 0.05% of Accenture worth $66,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ACN. Mitchell Capital Management Co. grew its holdings in shares of Accenture by 1.4% in the first quarter. Mitchell Capital Management Co. now owns 4,140 shares of the information technology services provider’s stock valued at $729,000 after purchasing an additional 56 shares in the last quarter. Private Trust Co. NA raised its position in Accenture by 1.6% in the 2nd quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after purchasing an additional 57 shares during the last quarter. Modera Wealth Management LLC increased its stake in Accenture by 1.5% in the 2nd quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after buying an additional 57 shares during the period. Enterprise Bank & Trust Co increased its stake in Accenture by 0.7% in the 2nd quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock valued at $1,807,000 after buying an additional 65 shares during the period. Finally, Tarbox Family Office Inc. increased its stake in Accenture by 34.6% in the 2nd quarter. Tarbox Family Office Inc. now owns 253 shares of the information technology services provider’s stock valued at $47,000 after buying an additional 65 shares during the period. 69.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. Bank of America upped 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. Deutsche Bank boosted 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. Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Citigroup upped their target price on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, UBS Group set a $190.00 price objective on shares of Accenture and gave the stock a “hold” rating in a report on Friday, June 28th. One investment 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. The stock has a consensus rating of “Buy” and a consensus price target of $192.38.

ACN stock traded up $1.95 during mid-day trading on Wednesday, reaching $197.70. The company had a trading volume of 26,895 shares, compared to its average volume of 1,739,111. The stock has a market capitalization of $133.16 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.41 and a beta of 1.04. Accenture Plc has a one year low of $132.63 and a one year high of $200.68. The stock’s 50-day simple moving average is $194.10 and its two-hundred day simple moving average is $180.78.

Accenture (NYSE:ACN) last posted 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. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Accenture had a return on equity of 36.24% and a net margin of 10.93%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $1.79 earnings per share. As a group, research analysts predict that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

In other Accenture news, CEO David Rowland sold 2,330 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $187.78, for a total value of $437,527.40. Following the sale, the chief executive officer now directly owns 24,318 shares in the company, valued at $4,566,434.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel T. London sold 2,283 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $188.03, for a total value of $429,272.49. Following the completion of the sale, the insider now owns 27,294 shares in the company, valued at $5,132,090.82. The disclosure for this sale can be found here. Insiders sold 22,760 shares of company stock worth $4,353,328 over the last quarter. 0.18% of the stock is currently owned by company insiders.

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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