Blue Fin Capital Inc. Has $709,000 Position in Accenture Plc (NYSE:ACN)

Blue Fin Capital Inc. boosted its stake in Accenture Plc (NYSE:ACN) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,839 shares of the information technology services provider’s stock after acquiring an additional 111 shares during the period. Blue Fin Capital Inc.’s holdings in Accenture were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ACN. Lazard Asset Management LLC increased its stake in Accenture by 23.0% during the first quarter. Lazard Asset Management LLC now owns 6,270,138 shares of the information technology services provider’s stock valued at $1,103,668,000 after purchasing an additional 1,173,313 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in Accenture during the second quarter valued at $15,355,000. The Manufacturers Life Insurance Company increased its stake in Accenture by 71.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,338,821 shares of the information technology services provider’s stock valued at $235,659,000 after purchasing an additional 557,879 shares during the last quarter. Swedbank increased its stake in Accenture by 87.2% during the first quarter. Swedbank now owns 1,022,838 shares of the information technology services provider’s stock valued at $180,040,000 after purchasing an additional 476,357 shares during the last quarter. Finally, Comgest Global Investors S.A.S. increased its stake in Accenture by 119.4% during the first quarter. Comgest Global Investors S.A.S. now owns 861,824 shares of the information technology services provider’s stock valued at $151,698,000 after purchasing an additional 468,941 shares during the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

In other Accenture news, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 36,713 shares of the company’s stock, valued at approximately $7,122,322. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Rowland sold 2,255 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total transaction of $437,537.65. Following the completion of the sale, the chief executive officer now directly owns 25,078 shares of the company’s stock, valued at $4,865,884.34. The disclosure for this sale can be found here. Insiders sold 22,760 shares of company stock valued at $4,353,328 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

ACN stock opened at $189.56 on Friday. The company has a market capitalization of $129.61 billion, a P/E ratio of 28.12, a PEG ratio of 2.55 and a beta of 1.04. The company has a 50-day simple moving average of $192.01 and a 200 day simple moving average of $177.43. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $197.47.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.04. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 earnings per share. On average, sell-side analysts expect that Accenture Plc will post 7.33 EPS for the current fiscal year.

Several analysts have weighed in on the stock. Deutsche Bank boosted their target price on shares of Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Citigroup boosted their target price on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. 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 report on Thursday, June 20th. Argus upped their price target on shares of Accenture to $220.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Credit Suisse Group set a $180.00 price target on shares of Accenture and gave the stock a “hold” rating in a research report 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 stock. The company has a consensus rating of “Buy” and an average 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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