Douglas Lane & Associates LLC Sold 6,669 Shares of Accenture Plc (NYSE:ACN)

Douglas Lane & Associates LLC Sold 6,669 Shares of Accenture Plc (NYSE:ACN)

Douglas Lane & Associates LLC cut its holdings in shares of Accenture Plc (NYSE:ACN) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,798 shares of the information technology services provider’s stock after selling 6,669 shares during the period. Douglas Lane & Associates LLC’s holdings in Accenture were worth $13,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ACN. Vanguard Group Inc. grew its stake in shares of Accenture by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after acquiring an additional 770,904 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Accenture by 1.5% in the third quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock valued at $9,064,818,000 after buying an additional 770,904 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Accenture by 115,500.5% in the third quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock valued at $1,739,880,000 after buying an additional 10,213,711 shares in the last quarter. WCM Investment Management CA grew its stake in shares of Accenture by 3.7% in the third quarter. WCM Investment Management CA now owns 5,905,897 shares of the information technology services provider’s stock valued at $1,005,184,000 after buying an additional 212,432 shares in the last quarter. Finally, Polen Capital Management LLC grew its stake in shares of Accenture by 0.7% in the third quarter. Polen Capital Management LLC now owns 5,160,737 shares of the information technology services provider’s stock valued at $878,357,000 after buying an additional 36,325 shares in the last quarter. Institutional investors own 70.56% of the company’s stock.

In related news, insider Ellyn Shook sold 1,172 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $155.00, for a total value of $181,660.00. Following the sale, the insider now directly owns 36,337 shares in the company, valued at $5,632,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $163.51, for a total value of $327,020.00. Following the completion of the sale, the insider now owns 126,104 shares in the company, valued at $20,619,265.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,033 shares of company stock worth $8,481,437. Company insiders own 0.18% of the company’s stock.

Accenture stock traded up $0.41 during midday trading on Friday, reaching $155.59. The company’s stock had a trading volume of 2,300,033 shares, compared to its average volume of 1,826,179. Accenture Plc has a 52 week low of $132.63 and a 52 week high of $175.64. The stock has a market cap of $103.35 billion, a PE ratio of 23.08, a P/E/G ratio of 2.09 and a beta of 1.10.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.12. The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $10.54 billion. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.79 earnings per share. Research analysts forecast that Accenture Plc will post 7.2 earnings per share for the current year.

ACN has been the subject of several analyst reports. Citigroup decreased their target price on shares of Accenture from $172.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Wells Fargo & Co set a $165.00 price objective on shares of Accenture and gave the stock a “buy” rating in a research report on Thursday, December 20th. ValuEngine cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Robert W. Baird reduced their price objective on shares of Accenture from $176.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, December 21st. Finally, KeyCorp dropped their target price on Accenture from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $173.84.

Accenture Company Profile

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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