Investors Sell Shares of Accenture (ACN) on Strength on Insider Selling

Investors sold shares of Accenture Plc (NYSE:ACN) on strength during trading on Wednesday following insider selling activity. $57.21 million flowed into the stock on the tick-up and $163.25 million flowed out of the stock on the tick-down, for a money net flow of $106.04 million out of the stock. Of all stocks tracked, Accenture had the 15th highest net out-flow for the day. Accenture traded up $2.95 for the day and closed at $159.79Specifically, COO Johan Deblaere sold 55,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $154.24, for a total transaction of $8,483,200.00. Following the completion of the sale, the chief operating officer now directly owns 112,208 shares in the company, valued at approximately $17,306,961.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $155.34, for a total value of $310,680.00. Following the sale, the insider now owns 121,041 shares of the company’s stock, valued at $18,802,508.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,249 shares of company stock valued at $18,106,228. Corporate insiders own 0.21% of the company’s stock.

A number of analysts have recently weighed in on the company. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $159.00 to $140.00 in a research report on Monday, February 5th. Pivotal Research set a $180.00 price objective on Accenture and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Cowen restated a “buy” rating and set a $175.00 price objective on shares of Accenture in a research report on Friday, January 12th. Credit Suisse Group set a $165.00 price objective on Accenture and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Finally, KeyCorp upped their price objective on Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a research report on Saturday, December 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Accenture presently has an average rating of “Hold” and an average target price of $156.57.

The company has a market cap of $102,440.00, a PE ratio of 28.33, a P/E/G ratio of 2.33 and a beta of 1.05.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.67 by $0.12. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. equities research analysts anticipate that Accenture Plc will post 6.65 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Jacobi Capital Management LLC raised its position in Accenture by 104.8% in the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $128,000. Aevitas Wealth Management Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $131,000. Santori & Peters Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $181,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Accenture in the third quarter valued at about $187,000. Hedge funds and other institutional investors own 75.63% of the company’s stock.

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Accenture Company Profile

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

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