Harwood Advisory Group LLC Takes $415,000 Position in Accenture Plc (NYSE:ACN)

Harwood Advisory Group LLC bought a new stake in Accenture Plc (NYSE:ACN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,245 shares of the information technology services provider’s stock, valued at approximately $415,000.

Other hedge funds have also recently made changes to their positions in the company. Mitchell Capital Management Co. raised its holdings in Accenture by 1.4% in the first quarter. Mitchell Capital Management Co. now owns 4,140 shares of the information technology services provider’s stock valued at $729,000 after acquiring an additional 56 shares in the last quarter. Private Trust Co. NA raised its holdings in Accenture by 1.6% in the second quarter. Private Trust Co. NA now owns 3,642 shares of the information technology services provider’s stock valued at $672,000 after acquiring an additional 57 shares in the last quarter. Modera Wealth Management LLC raised its holdings in Accenture by 1.5% in the second quarter. Modera Wealth Management LLC now owns 3,891 shares of the information technology services provider’s stock valued at $719,000 after acquiring an additional 57 shares in the last quarter. Enterprise Bank & Trust Co raised its holdings in Accenture by 0.7% in the second quarter. Enterprise Bank & Trust Co now owns 9,780 shares of the information technology services provider’s stock valued at $1,807,000 after acquiring an additional 65 shares in the last quarter. Finally, Tarbox Family Office Inc. raised its holdings in Accenture by 34.6% in the second quarter. Tarbox Family Office Inc. now owns 253 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

Several analysts recently issued reports on ACN shares. Citigroup upped their price target on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. BMO Capital Markets upped their price target on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a report on Friday, June 28th. Deutsche Bank upped their price target on shares of Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, June 10th. UBS Group set a $190.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Argus increased their target price on shares of Accenture to $220.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $192.38.

Shares of NYSE:ACN traded down $3.53 on Friday, reaching $192.81. 2,180,759 shares of the company’s stock were exchanged, compared to its average volume of 1,779,840. The firm has a market capitalization of $131.93 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.59 and a beta of 1.04. Accenture Plc has a fifty-two week low of $132.63 and a fifty-two week high of $197.93. The business’s 50-day moving average is $193.30 and its two-hundred day moving average is $178.57.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 27th. The information technology services provider reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. The company had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.79 earnings per share. Sell-side analysts anticipate that Accenture Plc will post 7.33 EPS for the current year.

In other news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $186.35, for a total transaction of $372,700.00. Following the completion of the transaction, the insider now owns 77,240 shares in the company, valued at $14,393,674. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel T. London sold 2,283 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $188.03, for a total transaction of $429,272.49. Following the transaction, the insider now owns 27,294 shares of the company’s stock, valued at approximately $5,132,090.82. The disclosure for this sale can be found here. Insiders have sold 22,760 shares of company stock valued at $4,353,328 in the last 90 days. Insiders own 0.18% of the company’s stock.

Accenture 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.

Featured Article: Lock-Up Period Expiration

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.