Redmond Asset Management LLC Sells 163 Shares of Accenture Plc (NYSE:ACN)

Redmond Asset Management LLC trimmed its holdings in shares of Accenture Plc (NYSE:ACN) by 2.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,892 shares of the information technology services provider’s stock after selling 163 shares during the period. Redmond Asset Management LLC’s holdings in Accenture were worth $1,458,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Mitchell Capital Management Co. lifted its holdings in Accenture by 1.4% during the 1st 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 during the last quarter. Private Trust Co. NA lifted its holdings in Accenture by 1.6% during 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. Enterprise Bank & Trust Co lifted its holdings in Accenture by 0.7% during 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 purchasing an additional 65 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in Accenture by 4.5% during the 1st quarter. Convergence Investment Partners LLC now owns 1,578 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 68 shares during the last quarter. Finally, KC Investment Advisors LLC lifted its holdings in Accenture by 3.1% during the 1st quarter. KC Investment Advisors LLC now owns 2,335 shares of the information technology services provider’s stock valued at $411,000 after purchasing an additional 70 shares during the last quarter. 69.57% of the stock is owned by institutional investors.

In other news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total transaction of $970,000.00. Following the completion of the sale, the insider now owns 36,713 shares in the company, valued at approximately $7,122,322. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Chad T. Jerdee sold 3,247 shares of Accenture stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $186.34, for a total transaction of $605,045.98. Following the sale, the general counsel now 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. Over the last ninety days, insiders sold 22,760 shares of company stock valued at $4,353,328. Insiders own 0.18% of the company’s stock.

Shares of NYSE ACN traded up $2.55 during trading on Thursday, reaching $189.52. The company had a trading volume of 59,726 shares, compared to its average volume of 1,615,405. Accenture Plc has a 52 week low of $132.63 and a 52 week high of $197.47. The stock has a market cap of $125.79 billion, a PE ratio of 28.07, a PEG ratio of 2.51 and a beta of 1.04. The business’s 50 day moving average is $191.92.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $11.03 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

Several brokerages recently issued reports on ACN. UBS Group set a $190.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Citigroup lifted their price target on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Wells Fargo & Co lifted their price target on shares of Accenture from $193.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, June 13th. Argus lifted their price target on shares of Accenture to $220.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $192.38.

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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