Cadinha & Co. LLC Has $9.64 Million Position in Accenture Plc (ACN)

Cadinha & Co. LLC decreased its position in Accenture Plc (NYSE:ACN) by 35.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 62,771 shares of the information technology services provider’s stock after selling 34,230 shares during the period. Accenture comprises 1.9% of Cadinha & Co. LLC’s portfolio, making the stock its 20th biggest position. Cadinha & Co. LLC’s holdings in Accenture were worth $9,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. BlackRock Inc. raised its stake in shares of Accenture by 7.2% during the 1st quarter. BlackRock Inc. now owns 42,348,766 shares of the information technology services provider’s stock worth $6,500,537,000 after purchasing an additional 2,861,472 shares in the last quarter. Wells Fargo & Company MN raised its stake in Accenture by 54.1% in the 4th quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock valued at $1,068,260,000 after acquiring an additional 2,450,772 shares during the period. WCM Investment Management CA raised its stake in Accenture by 5.9% in the 4th quarter. WCM Investment Management CA now owns 5,280,182 shares of the information technology services provider’s stock valued at $808,343,000 after acquiring an additional 291,858 shares during the period. Polen Capital Management LLC raised its stake in Accenture by 1.4% in the 4th quarter. Polen Capital Management LLC now owns 4,940,069 shares of the information technology services provider’s stock valued at $756,275,000 after acquiring an additional 67,052 shares during the period. Finally, Franklin Resources Inc. raised its stake in Accenture by 2.9% in the 4th quarter. Franklin Resources Inc. now owns 4,919,754 shares of the information technology services provider’s stock valued at $753,166,000 after acquiring an additional 137,044 shares during the period. Hedge funds and other institutional investors own 73.81% of the company’s stock.

In related news, CEO Pierre Nanterme sold 36,858 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $150.80, for a total transaction of $5,558,186.40. Following the completion of the sale, the chief executive officer now owns 357,405 shares of the company’s stock, valued at $53,896,674. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total value of $312,200.00. Following the sale, the insider now directly owns 120,025 shares of the company’s stock, valued at approximately $18,735,902.50. The disclosure for this sale can be found here. Insiders have sold 53,828 shares of company stock valued at $8,145,630 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

ACN has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $180.00 price target (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Robert W. Baird increased their price target on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. Pivotal Research restated a “buy” rating and issued a $180.00 price target on shares of Accenture in a research note on Thursday, April 26th. ValuEngine upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Barclays upped their price objective on Accenture from $152.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, March 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $161.37.

Shares of Accenture traded down $0.26, reaching $162.76, during mid-day trading on Thursday, according to MarketBeat. 1,910,474 shares of the company were exchanged, compared to its average volume of 2,203,994. Accenture Plc has a 52 week low of $119.10 and a 52 week high of $165.58. The company has a market capitalization of $103.39 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. research analysts predict that Accenture Plc will post 6.69 EPS for the current fiscal year.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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