Cobiz Wealth LLC lowered its position in shares of Accenture Plc (NYSE:ACN) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,403 shares of the information technology services provider’s stock after selling 2,011 shares during the period. Accenture makes up approximately 1.7% of Cobiz Wealth LLC’s portfolio, making the stock its 12th largest position. Cobiz Wealth LLC’s holdings in Accenture were worth $8,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Segment Wealth Management LLC increased its holdings in Accenture by 2.6% in the 4th quarter. Segment Wealth Management LLC now owns 28,314 shares of the information technology services provider’s stock valued at $4,335,000 after purchasing an additional 711 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Accenture in the 4th quarter valued at approximately $2,535,000. Foster & Motley Inc. increased its holdings in Accenture by 0.8% in the 4th quarter. Foster & Motley Inc. now owns 39,904 shares of the information technology services provider’s stock valued at $6,109,000 after purchasing an additional 318 shares during the last quarter. TRUE Private Wealth Advisors acquired a new stake in Accenture in the 4th quarter valued at approximately $772,000. Finally, Personal Capital Advisors Corp acquired a new stake in Accenture in the 4th quarter valued at approximately $276,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Several analysts recently weighed in on ACN shares. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Tuesday, November 28th. Deutsche Bank lifted their target price on shares of Accenture to $165.00 in a report on Monday, December 11th. KeyCorp reiterated a “buy” rating and issued a $149.00 target price on shares of Accenture in a report on Sunday, October 29th. Pivotal Research started coverage on shares of Accenture in a report on Wednesday, November 8th. They issued a “buy” rating and a $165.00 target price for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 target price on shares of Accenture in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $156.57.

In other news, insider Daniel T. London sold 3,087 shares of Accenture stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $140.05, for a total transaction of $432,334.35. Following the completion of the sale, the insider now directly owns 21,241 shares of the company’s stock, valued at approximately $2,974,802.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gianfranco Casati sold 20,380 shares of Accenture stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $142.72, for a total transaction of $2,908,633.60. Following the sale, the insider now directly owns 51,014 shares of the company’s stock, valued at $7,280,718.08. The disclosure for this sale can be found here. Insiders sold a total of 81,916 shares of company stock valued at $12,311,906 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Shares of Accenture Plc (NYSE:ACN) traded down $0.36 during mid-day trading on Tuesday, reaching $161.08. 554,498 shares of the company’s stock traded hands, compared to its average volume of 2,177,736. Accenture Plc has a 52 week low of $112.31 and a 52 week high of $162.50. The stock has a market cap of $103,410.00, a PE ratio of 28.56, a PEG ratio of 2.44 and a beta of 1.08.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the company posted $1.58 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. analysts forecast that Accenture Plc will post 6.64 EPS for the current year.

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Accenture 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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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