Investors Sell Accenture PLC (NYSE:ACN) on Strength (NYSE:ACN)

Investors sold shares of Accenture PLC (NYSE:ACN) on strength during trading on Tuesday. $83.63 million flowed into the stock on the tick-up and $165.00 million flowed out of the stock on the tick-down, for a money net flow of $81.37 million out of the stock. Of all companies tracked, Accenture PLC had the 0th highest net out-flow for the day. Accenture PLC traded up $1.04 for the day and closed at $129.86

Several research firms have recently weighed in on ACN. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Wells Fargo & Company restated an “outperform” rating and set a $138.00 price target (up previously from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. SunTrust Banks, Inc. cut Accenture PLC from a “buy” rating to a “hold” rating and increased their price objective for the stock from $122.15 to $130.00 in a research report on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the stock a “buy” rating in a research report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $130.71.

The stock has a market capitalization of $78.76 billion, a P/E ratio of 22.57 and a beta of 1.11. The company has a 50-day moving average of $127.52 and a 200 day moving average of $122.97.

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

In related news, insider Gianfranco Casati sold 6,836 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 61,714 shares in the company, valued at approximately $7,588,970.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $129.26, for a total value of $284,372.00. Following the completion of the transaction, the insider now owns 119,013 shares in the company, valued at $15,383,620.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,817 shares of company stock valued at $9,920,929. Insiders own 0.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Accenture PLC during the second quarter worth approximately $533,000. Coconut Grove Bank raised its position in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock worth $101,000 after buying an additional 364 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in Accenture PLC by 23.4% in the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after buying an additional 162 shares during the period. Farmers & Merchants Investments Inc. increased its position in Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock worth $104,000 after buying an additional 11 shares during the period. Finally, Howe & Rusling Inc. increased its position in Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock worth $109,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 76.88% of the company’s stock.

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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.

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