Arizona State Retirement System Has $24.92 Million Stake in Accenture PLC (ACN)

Arizona State Retirement System cut its position in Accenture PLC (NYSE:ACN) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,500 shares of the information technology services provider’s stock after selling 6,900 shares during the quarter. Arizona State Retirement System’s holdings in Accenture PLC were worth $24,922,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Accenture PLC by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock valued at $5,679,843,000 after buying an additional 2,749,896 shares in the last quarter. BlackRock Inc. raised its position in shares of Accenture PLC by 2,139.5% in the 1st quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock valued at $4,730,821,000 after buying an additional 37,700,871 shares in the last quarter. State Street Corp raised its position in shares of Accenture PLC by 2.7% in the 1st quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after buying an additional 665,860 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Accenture PLC by 8.8% in the 1st quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after buying an additional 1,738,262 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Accenture PLC by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock valued at $1,667,243,000 after buying an additional 625,381 shares in the last quarter. Institutional investors own 77.80% of the company’s stock.

In related news, COO Johan Deblaere sold 5,000 shares of Accenture PLC stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.99, for a total value of $614,950.00. Following the transaction, the chief operating officer now directly owns 126,417 shares of the company’s stock, valued at $15,548,026.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gianfranco Casati sold 6,836 shares of Accenture PLC stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $840,622.92. Following the completion of the transaction, the insider now directly owns 61,714 shares in the company, valued at $7,588,970.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,817 shares of company stock worth $9,920,929. 0.21% of the stock is owned by insiders.

Several equities analysts have recently commented on ACN shares. Stifel Nicolaus boosted their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. BidaskClub cut shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. Robert W. Baird reiterated a “neutral” rating and set a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, Cowen and Company upped their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $131.53.

Shares of Accenture PLC (NYSE ACN) opened at 136.23 on Tuesday. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $136.26. The company has a market capitalization of $84.19 billion, a price-to-earnings ratio of 24.12 and a beta of 1.11. The stock has a 50 day moving average of $129.47 and a 200-day moving average of $124.35.

Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Accenture PLC will post $5.90 earnings per share for the current year.

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About Accenture PLC

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.

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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