American National Bank Lowers Stock Holdings in Accenture Plc (NYSE:ACN)

American National Bank trimmed its holdings in Accenture Plc (NYSE:ACN) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,439 shares of the information technology services provider’s stock after selling 1,106 shares during the quarter. Accenture comprises about 1.7% of American National Bank’s investment portfolio, making the stock its 27th biggest holding. American National Bank’s holdings in Accenture were worth $5,439,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Verity & Verity LLC boosted its holdings in shares of Accenture by 0.6% during the 2nd quarter. Verity & Verity LLC now owns 36,556 shares of the information technology services provider’s stock valued at $6,754,000 after acquiring an additional 205 shares during the last quarter. Round Table Services LLC boosted its holdings in shares of Accenture by 7.8% during the 2nd quarter. Round Table Services LLC now owns 2,236 shares of the information technology services provider’s stock valued at $413,000 after acquiring an additional 161 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of Accenture by 0.8% during the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 35,906 shares of the information technology services provider’s stock valued at $6,582,000 after acquiring an additional 300 shares during the last quarter. MU Investments Co. Ltd. boosted its holdings in shares of Accenture by 2.0% in the second quarter. MU Investments Co. Ltd. now owns 35,200 shares of the information technology services provider’s stock worth $6,442,000 after buying an additional 700 shares during the last quarter. Finally, Tandem Investment Advisors Inc. boosted its holdings in shares of Accenture by 15.7% in the second quarter. Tandem Investment Advisors Inc. now owns 57,264 shares of the information technology services provider’s stock worth $10,581,000 after buying an additional 7,776 shares during the last quarter. Institutional investors own 69.57% of the company’s stock.

In other news, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $186.35, for a total transaction of $372,700.00. Following the transaction, the insider now owns 77,240 shares in the company, valued at approximately $14,393,674. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $194.00, for a total value of $970,000.00. Following the transaction, the insider now owns 36,713 shares in the company, valued at approximately $7,122,322. 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. 0.18% of the stock is owned by insiders.

Shares of ACN traded up $3.66 during trading hours on Friday, reaching $193.22. 2,485,600 shares of the company traded hands, compared to its average volume of 1,687,325. The firm has a market cap of $125.64 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.47 and a beta of 1.04. Accenture Plc has a 12-month low of $132.63 and a 12-month high of $197.47. The stock’s fifty day moving average price is $192.24 and its 200 day moving average price is $177.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Accenture Plc will post 7.33 earnings per share for the current year.

ACN has been the topic of a number of research reports. 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. Bank of America raised their price objective on shares of Accenture from $182.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Argus raised their price objective on shares of Accenture to $220.00 and gave the stock a “buy” rating in a report on Monday, July 15th. 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. Finally, Citigroup raised their target price on shares of Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $192.38.

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.

See Also: Technical Analysis

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.