RMB Capital Management LLC cut its stake in Accenture Plc (NYSE:ACN) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,441 shares of the information technology services provider’s stock after selling 1,657 shares during the period. RMB Capital Management LLC’s holdings in Accenture were worth $15,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Private Trust Co. NA grew its stake in shares of 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 worth $672,000 after purchasing an additional 57 shares in the last quarter. Modera Wealth Management LLC grew its stake in shares of 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 worth $719,000 after purchasing an additional 57 shares in the last quarter. Enterprise Bank & Trust Co grew its stake in shares of 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 worth $1,807,000 after purchasing an additional 65 shares in the last quarter. Tarbox Family Office Inc. grew its stake in shares of Accenture by 34.6% in the second quarter. Tarbox Family Office Inc. now owns 253 shares of the information technology services provider’s stock worth $47,000 after purchasing an additional 65 shares in the last quarter. Finally, Highland Private Wealth Management grew its stake in shares of Accenture by 4.8% in the second quarter. Highland Private Wealth Management now owns 1,446 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 66 shares in the last quarter. 69.88% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on ACN shares. Citigroup raised their target price on Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Credit Suisse Group set a $180.00 target price on Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. UBS Group set a $190.00 target price on Accenture and gave the company a “hold” rating in a research note on Friday, June 28th. Robert W. Baird set a $212.00 target price on Accenture and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Deutsche Bank raised their target price on Accenture from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One equities 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 stock. Accenture presently has a consensus rating of “Buy” and an average price target of $197.25.

Shares of NYSE ACN traded down $1.00 during mid-day trading on Friday, hitting $194.52. 59,052 shares of the company traded hands, compared to its average volume of 1,826,990. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $202.80. The stock has a market capitalization of $127.44 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.31 and a beta of 1.04. The business has a 50 day moving average of $194.48 and a two-hundred day moving average of $182.26.

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

In other news, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $186.35, for a total transaction of $372,700.00. Following the completion of the sale, the insider now directly owns 77,240 shares of the company’s stock, valued at $14,393,674. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Chad T. Jerdee sold 3,247 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $186.34, for a total value of $605,045.98. Following the sale, the general counsel now directly owns 13,271 shares of the company’s stock, valued at $2,472,918.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,760 shares of company stock valued at $4,353,328. 0.18% of the stock is currently owned by company insiders.

About Accenture

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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