Isthmus Partners LLC lowered its position in Accenture Plc (NYSE:ACN) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,364 shares of the information technology services provider’s stock after selling 1,246 shares during the period. Accenture makes up about 2.0% of Isthmus Partners LLC’s portfolio, making the stock its 16th largest position. Isthmus Partners LLC’s holdings in Accenture were worth $7,270,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Farmers National Bank purchased a new position in shares of Accenture in the 4th quarter worth approximately $107,000. Penserra Capital Management LLC purchased a new position in shares of Accenture in the 1st quarter worth approximately $127,000. Virtue Capital Management LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $128,000. Aevitas Wealth Management Inc. purchased a new position in shares of Accenture in the 4th quarter worth approximately $131,000. Finally, Wagner Wealth Management LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $179,000. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Accenture opened at $155.99 on Monday, according to Marketbeat Ratings. The company has a market cap of $99.10 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.03. Accenture Plc has a 12 month low of $119.10 and a 12 month high of $165.58.
In other news, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction on Monday, March 26th. The stock was sold at an average price of $150.72, for a total value of $753,600.00. Following the completion of the sale, the chief operating officer now directly owns 73,638 shares of the company’s stock, valued at approximately $11,098,719.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $156.10, for a total value of $312,200.00. Following the completion of the sale, the insider now directly owns 120,025 shares of the company’s stock, valued at $18,735,902.50. The disclosure for this sale can be found here. Insiders sold a total of 53,828 shares of company stock valued at $8,145,630 over the last three months. Insiders own 0.21% of the company’s stock.
A number of research analysts have recently issued reports on ACN shares. Morgan Stanley raised shares of Accenture from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $159.00 to $140.00 in a research report on Monday, February 5th. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research report on Tuesday, February 20th. KeyCorp lifted their price objective on shares of Accenture from $172.00 to $181.00 and gave the stock a “positive” rating in a research report on Monday, March 19th. Wedbush reissued an “outperform” rating and set a $180.00 target price (up previously from $165.00) on shares of Accenture in a research report on Tuesday, March 20th. Finally, Robert W. Baird boosted their target price on shares of Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. Accenture currently has an average rating of “Buy” and a consensus price target of $161.37.
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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