GAM Holding AG Raises Position in Accenture Plc (NYSE:ACN)

GAM Holding AG boosted its position in Accenture Plc (NYSE:ACN) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,507 shares of the information technology services provider’s stock after purchasing an additional 455 shares during the period. GAM Holding AG’s holdings in Accenture were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. increased its holdings in Accenture by 70.2% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 73 shares during the period. Truvestments Capital LLC purchased a new position in Accenture during the first quarter valued at approximately $27,000. Financial Gravity Wealth Inc. purchased a new position in Accenture during the first quarter valued at approximately $30,000. Semmax Financial Advisors Inc. purchased a new position in Accenture during the first quarter valued at approximately $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Accenture by 455.9% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 189 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 155 shares during the period. 69.24% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the stock. ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. KeyCorp lifted their price target on shares of Accenture from $173.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, March 29th. Credit Suisse Group set a $170.00 price target on shares of Accenture and gave the stock a “hold” rating in a report on Tuesday, April 9th. BMO Capital Markets lifted their price target on shares of Accenture from $185.00 to $195.00 and gave the stock a “positive” rating in a report on Friday. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $190.00 price target on shares of Accenture in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $191.13.

In other news, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $177.77, for a total value of $433,936.57. Following the transaction, the general counsel now directly owns 13,381 shares in the company, valued at approximately $2,378,740.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $177.78, for a total transaction of $1,422,240.00. Following the sale, the insider now owns 116,753 shares in the company, valued at $20,756,348.34. The disclosure for this sale can be found here. In the last three months, insiders sold 60,576 shares of company stock valued at $10,756,483. Corporate insiders own 0.18% of the company’s stock.

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

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Accenture Plc will post 7.33 earnings per share for the current fiscal year.

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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