Coldstream Capital Management Inc. Reduces Position in Accenture Plc (NYSE:ACN)

Coldstream Capital Management Inc. lowered its holdings in shares of Accenture Plc (NYSE:ACN) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,340 shares of the information technology services provider’s stock after selling 1,198 shares during the period. Coldstream Capital Management Inc.’s holdings in Accenture were worth $4,109,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Valley National Advisers Inc. boosted its stake in shares of Accenture by 70.2% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after buying an additional 73 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Accenture in the 1st quarter worth $27,000. Financial Gravity Wealth Inc. purchased a new position in shares of Accenture in the 1st quarter worth $30,000. Semmax Financial Advisors Inc. purchased a new position in shares of Accenture in the 1st quarter worth $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Accenture by 455.9% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock worth $33,000 after buying an additional 155 shares during the last quarter. 69.24% of the stock is currently owned by institutional investors and hedge funds.

NYSE ACN traded up $2.10 on Monday, hitting $186.87. 2,397,618 shares of the company traded hands, compared to its average volume of 1,919,713. The firm has a market cap of $124.84 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The business has a 50 day simple moving average of $181.30. Accenture Plc has a 52-week low of $132.63 and a 52-week high of $187.31.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.04. The company had revenue of $11.10 billion for 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%. Accenture’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 earnings per share. Research analysts forecast that Accenture Plc will post 7.33 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Credit Suisse Group set a $180.00 price target on Accenture and gave the stock a “hold” rating in a research note on Friday. UBS Group set a $190.00 price target on Accenture and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets raised their price target on Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a research note on Friday. Bank of America raised their price target on Accenture from $182.00 to $186.00 and gave the stock a “neutral” rating in a research note on Thursday, June 20th. Finally, Citigroup raised their price target on Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $191.13.

In other Accenture news, CAO Richard P. Clark sold 6,266 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $177.78, for a total transaction of $1,113,969.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard Lumb sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $181.19, for a total value of $3,261,420.00. Following the sale, the insider now directly owns 95,215 shares in the company, valued at $17,252,005.85. The disclosure for this sale can be found here. Insiders have sold 60,576 shares of company stock worth $10,756,483 over the last quarter. 0.18% of the stock is owned by company insiders.

Accenture Company Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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