Cincinnati Specialty Underwriters Insurance CO continued to hold its stake in shares of Accenture PLC (NYSE:ACN) during the first quarter, Holdings Channel reports. The institutional investor owned 25,000 shares of the information technology services provider’s stock at the end of the first quarter. Accenture PLC comprises approximately 2.8% of Cincinnati Specialty Underwriters Insurance CO’s holdings, making the stock its 14th largest position. Cincinnati Specialty Underwriters Insurance CO’s holdings in Accenture PLC were worth $2,997,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Coconut Grove Bank boosted its stake in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock worth $101,000 after buying an additional 364 shares in the last quarter. Elgethun Capital Management bought a new stake in shares of Accenture PLC during the fourth quarter worth about $102,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock worth $104,000 after buying an additional 11 shares in the last quarter. Howe & Rusling Inc. boosted its stake in shares of Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock worth $109,000 after buying an additional 113 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in shares of Accenture PLC during the fourth quarter worth about $116,000. Institutional investors own 78.57% of the company’s stock.
Accenture PLC (NYSE:ACN) opened at 127.11 on Thursday. The firm has a 50-day moving average price of $123.68 and a 200-day moving average price of $120.46. The firm has a market capitalization of $78.82 billion, a price-to-earnings ratio of 21.17 and a beta of 1.11. Accenture PLC has a one year low of $108.66 and a one year high of $128.47.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 23rd. The information technology services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.03. Accenture PLC had a return on equity of 44.51% and a net margin of 10.67%. The business had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $8.34 billion. During the same period in the previous year, the business posted $1.34 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Accenture PLC will post $5.86 EPS for the current year.
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A number of equities research analysts have recently issued reports on ACN shares. BMO Capital Markets upped their price objective on Accenture PLC to $125.00 in a research note on Friday, March 24th. Stifel Nicolaus upped their price objective on Accenture PLC from $128.00 to $138.00 and gave the stock a “buy” rating in a research note on Tuesday, March 21st. Deutsche Bank AG upped their price objective on Accenture PLC from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. Cantor Fitzgerald reiterated a “buy” rating and set a $135.00 price objective on shares of Accenture PLC in a research note on Monday, May 29th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $124.00 price objective on shares of Accenture PLC in a research note on Friday, March 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $129.61.
In related news, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $121.06, for a total value of $266,332.00. Following the sale, the insider now directly owns 121,710 shares in the company, valued at approximately $14,734,212.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel T. London sold 697 shares of the business’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $117.29, for a total value of $81,751.13. Following the completion of the sale, the insider now owns 27,179 shares in the company, valued at $3,187,824.91. The disclosure for this sale can be found here. Insiders sold a total of 82,626 shares of company stock worth $9,919,492 over the last 90 days. 0.21% of the stock is currently owned by company insiders.
Accenture PLC 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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