Trade Report: The Quantbot Technologies LP Acquires New Stake in Accenture PLC (ACN)

The Quantbot Technologies LP Acquires New Stake in Accenture PLC (ACN)

Quantbot Technologies LP acquired a new position in Accenture PLC (NYSE:ACN) during the second quarter, Holdings Channel reports. The fund acquired 114,952 shares of the company’s stock, valued at approximately $13,022,000. Accenture PLC makes up 1.4% of Quantbot Technologies LP’s holdings, making the stock its 4th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Accenture PLC during the second quarter worth about $116,516,000. Columbus Circle Investors acquired a new position in shares of Accenture PLC during the second quarter valued at about $58,353,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Accenture PLC during the first quarter valued at about $33,305,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Accenture PLC during the second quarter valued at about $19,379,000. Finally, Clark Capital Management Group Inc. boosted its position in shares of Accenture PLC by 1,910.7% in the first quarter. Clark Capital Management Group Inc. now owns 101,820 shares of the company’s stock valued at $11,750,000 after buying an additional 96,756 shares during the period. Institutional investors and hedge funds own 77.17% of the company’s stock.

Accenture PLC (NYSE:ACN) traded up 0.18% during trading on Friday, hitting $115.67. 1,656,236 shares of the stock traded hands. The company has a market cap of $72.01 billion, a P/E ratio of 17.93 and a beta of 1.25. The firm has a 50-day moving average price of $115.41 and a 200 day moving average price of $115.26. Accenture PLC has a 52-week low of $91.40 and a 52-week high of $124.96.

Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, September 29th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The firm had revenue of $8.49 billion for the quarter. During the same quarter last year, the firm posted $1.15 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Accenture PLC will post $5.92 EPS for the current year.

Several equities analysts have issued reports on the stock. Credit Suisse Group AG set a $124.00 price target on shares of Accenture PLC and gave the company a “hold” rating in a research report on Saturday, October 1st. Barclays PLC upped their price target on shares of Accenture PLC from $112.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday, September 30th. Cantor Fitzgerald upped their price target on shares of Accenture PLC from $132.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, October 3rd. Zacks Investment Research upgraded shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research report on Tuesday, July 5th. Finally, Vetr upgraded shares of Accenture PLC from a “buy” rating to a “strong-buy” rating and set a $130.00 price target for the company in a research report on Thursday, October 20th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Accenture PLC presently has a consensus rating of “Buy” and an average price target of $125.63.

In other news, insider Richard Lumb sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $113.12, for a total transaction of $141,400.00. Following the sale, the insider now owns 125,647 shares in the company, valued at approximately $14,213,188.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Pierre Nanterme sold 44,625 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $118.04, for a total transaction of $5,267,535.00. Following the sale, the chief executive officer now owns 162,615 shares in the company, valued at approximately $19,195,074.60. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

About Accenture PLC

Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.

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