Accenture PLC (ACN) Stake Increased by M&T Bank Corp
M&T Bank Corp raised its position in Accenture PLC (NYSE:ACN) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 149,968 shares of the company’s stock after buying an additional 8,836 shares during the period. M&T Bank Corp’s holdings in Accenture PLC were worth $18,322,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cribstone Capital Management LLC acquired a new position in shares of Accenture PLC during the second quarter worth $104,000. Exane Derivatives raised its position in shares of Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock worth $108,000 after buying an additional 457 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock worth $120,000 after buying an additional 971 shares in the last quarter. Tanaka Capital Management Inc. raised its position in shares of Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock worth $127,000 after buying an additional 850 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in shares of Accenture PLC by 18.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,215 shares of the company’s stock worth $138,000 after buying an additional 185 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.
Accenture PLC (NYSE:ACN) traded down 0.31% on Wednesday, reaching $120.56. The company’s stock had a trading volume of 398,089 shares. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The firm has a market capitalization of $74.78 billion, a PE ratio of 18.69 and a beta of 1.22. The stock’s 50 day moving average is $117.67 and its 200-day moving average is $115.81.
Accenture PLC (NYSE:ACN) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. The firm earned $8.49 billion during the quarter. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. Accenture PLC’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 EPS. Analysts predict that Accenture PLC will post $5.93 EPS for the current year.
A number of brokerages recently weighed in on ACN. Credit Suisse Group AG set a $124.00 price objective on Accenture PLC and gave the stock a “hold” rating in a report on Saturday, October 1st. Barclays PLC upped their target price on Accenture PLC from $112.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday, September 30th. Cantor Fitzgerald upped their target price on Accenture PLC from $132.00 to $139.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Robert W. Baird reissued a “neutral” rating and issued a $125.00 target price on shares of Accenture PLC in a report on Friday, September 16th. Finally, Vetr raised Accenture PLC from a “buy” rating to a “strong-buy” rating and set a $130.00 target price on the stock in a report on Thursday, October 20th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Accenture PLC presently has an average rating of “Buy” and an average price target of $126.15.
In other Accenture PLC news, insider Gianfranco Casati sold 18,732 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $116.18, for a total value of $2,176,283.76. Following the completion of the sale, the insider now owns 61,260 shares of the company’s stock, valued at $7,117,186.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Pierre Nanterme sold 44,625 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $118.04, for a total value of $5,267,535.00. Following the completion of the sale, the chief executive officer now directly owns 162,615 shares of the company’s stock, valued at approximately $19,195,074.60. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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