Lee Danner & Bass Inc. Boosts Stake in Accenture PLC (ACN)
Lee Danner & Bass Inc. increased its stake in Accenture PLC (NYSE:ACN) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,325 shares of the information technology services provider’s stock after buying an additional 1,081 shares during the period. Accenture PLC accounts for approximately 2.5% of Lee Danner & Bass Inc.’s portfolio, making the stock its 6th largest position. Lee Danner & Bass Inc.’s holdings in Accenture PLC were worth $22,674,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Coconut Grove Bank boosted its stake in 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 during the period. Bellwether Investment Group LLC boosted its stake in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares during the period. Parkside Financial Bank & Trust boosted its stake in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after buying an additional 19 shares during the period. Opera Trading Capital acquired a new stake in Accenture PLC during the first quarter worth approximately $119,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Accenture PLC during the first quarter worth approximately $122,000. 77.78% of the stock is currently owned by institutional investors.
Accenture PLC (NYSE:ACN) opened at 130.10 on Friday. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $130.95. The stock has a market capitalization of $80.40 billion, a price-to-earnings ratio of 23.04 and a beta of 1.11. The firm has a 50-day moving average of $128.85 and a 200-day moving average of $123.97.
Accenture PLC (NYSE:ACN) last released its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. Equities research analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.
A number of research firms have recently commented on ACN. BMO Capital Markets restated a “hold” rating and set a $130.00 target price (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Monday, August 28th. Wells Fargo & Company restated an “outperform” rating and set a $138.00 target price (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. SunTrust Banks, Inc. cut Accenture PLC from a “buy” rating to a “hold” rating and raised their target price for the company from $122.15 to $130.00 in a research report on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 target price on Accenture PLC and gave the company a “buy” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Accenture PLC has an average rating of “Buy” and an average target price of $131.17.
In other news, insider Gianfranco Casati sold 6,836 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $840,622.92. Following the sale, the insider now directly owns 61,714 shares in the company, valued at $7,588,970.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total transaction of $280,522.00. Following the completion of the sale, the insider now owns 119,942 shares in the company, valued at $15,293,804.42. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock worth $9,920,929 over the last quarter. Company insiders own 0.21% of the company’s stock.
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.
Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.