Zurich Insurance Group Ltd FI lifted its stake in Accenture Plc (NYSE:ACN) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 180,168 shares of the information technology services provider’s stock after acquiring an additional 29,373 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Accenture were worth $33,290,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ACN. Lazard Asset Management LLC increased its position in Accenture by 23.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,270,138 shares of the information technology services provider’s stock worth $1,103,668,000 after buying an additional 1,173,313 shares during the period. Vanguard Group Inc. grew its holdings in shares of Accenture by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock worth $10,231,417,000 after purchasing an additional 909,318 shares in the last quarter. Railway Pension Investments Ltd acquired a new stake in shares of Accenture during the 2nd quarter worth approximately $15,355,000. Prudential Financial Inc. grew its holdings in shares of Accenture by 70.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,732,160 shares of the information technology services provider’s stock worth $320,051,000 after purchasing an additional 713,027 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Accenture by 71.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,338,821 shares of the information technology services provider’s stock worth $235,659,000 after purchasing an additional 557,879 shares in the last quarter. 69.84% of the stock is currently owned by institutional investors.
In other Accenture news, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $194.00, for a total value of $970,000.00. Following the completion of the transaction, the insider now directly owns 36,713 shares of the company’s stock, valued at $7,122,322. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $196.95, for a total value of $393,900.00. Following the completion of the transaction, the insider now directly owns 73,548 shares of the company’s stock, valued at $14,485,278.60. 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 quarter. 0.18% of the stock is currently owned by corporate insiders.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.24% and a net margin of 10.93%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.79 earnings per share. As a group, analysts predict that Accenture Plc will post 7.33 earnings per share for the current year.
Several analysts have recently weighed in on ACN shares. Wells Fargo & Co lifted their price objective on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Bank of America boosted their price target on Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. Barclays assumed coverage on Accenture in a research note on Friday. They issued an “overweight” rating and a $228.00 price target on the stock. Citigroup boosted their price target on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Credit Suisse Group set a $180.00 price target on Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $199.06.
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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