Accenture PLC (ACN) Position Cut by Herndon Capital Management LLC

New York: In a report revealed to clients and investors on 27 September, Barclays reiterated their Equal-Weight rating on Accenture plc Class A Ordinary Shares (Ireland) (NYSE:ACN) shares. The Factory Mutual Insurance Company holds 289,500 shares with $35.81M value, up from 168,500 last quarter. Accenture reported 4QFY17 net revenue of $9.15 bn (+7.8% y/y, +8% cc), vs. guidance of $8.85-9.10 bn, our estimate of $9.07 bn and the FactSet consensus of $9.01 bn.

Looking forward, for the quarter ending May-17, 23 analysts have a mean sales target of 8,825.27 million.

Revenues rose 7.8% from a year ago to $9.15 billion, also topping analysts' view for $9.01 billion. Waldron has an ownership of 5,709 stocks of the information technology services provider's shares valued at $684,000 after scooping up an extra 2,756 shares through out the previous quarter, Wetherby Asset Management grew its holdings in stocks of Accenture by 1.4% during the Q1. Capital Research Global Investors is the second biggest holder with 28 million shares now valued at 3.34 B million whilst State Street Corp has 25 million shares valued at 3.04 B million. The stock of Accenture Plc (NYSE:ACN) has "Buy" rating given on Friday, October 16 by Cantor Fitzgerald. Analyst fixed "buy" recommendation and a $150.00 price objective on the company shares. The biggest holder now is Mark Foster who owns 299,280 shares (0.05% of those outstanding), whilst William D. Green holds 235,094 (0.04% of shares outstanding) and Pierre Nanterme holds 216,772 (0.03% of shares outstanding). Finally, Berenberg Bank set a $140.00 price target on Accenture PLC and gave the company a "buy" rating in a report on Saturday, June 24th. Wedbush maintained Accenture Plc (NYSE:ACN) on Thursday, March 30 with "Outperform" rating. The firm has a market capitalization of $84.44 billion, a PE ratio of 24.20 and a beta of 1.11.

Other equities analysts have also recently issued research reports about the stock. Finally, BidaskClub cut shares of Accenture PLC from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Parkside Financial Bank & Trust lifted its stake in Accenture PLC by 2.0% in the first quarter. The stock's 50 day moving average is $130.89 and its 200 day moving average is $124.97. We are positive about Accenture's latest product additions in the analytics application space, issued the increasing demand for digital solutions. Also Executive Richard Lumb unloaded 2,200 stocks of Accenture shares in a trade dated Wed, Jul 19th. The stock now has an average rating of "Buy" and a consensus target price of $135.53. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. This represents an increase of approximately 570% compared to the typical volume of 1,342 put options. "EPS of $1.48 was above our estimate of $1.47, and the consensus of $1.46".

ILLEGAL ACTIVITY WARNING: "Accenture PLC (ACN) Position Raised by State Board of Administration of Florida Retirement System" was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another domain, it was stolen and republished in violation of United States and global copyright law. The correct version of this piece of content can be viewed at The information was declared in a document with the SEC which is available at the Security and Exchange Commission website.

In other news, insider Gianfranco Casati sold 5,000 shares of the company's stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the sale, the insider now directly owns 56,014 shares in the company, valued at approximately $7,281,820. The disclosure for this sale can be found here. The Firm provides management and technology consulting services.

Revenue by region: North America, $4.23B (+4%); Europe, $3.12B (+10%); Growth Markets, $1.8B (+14%).

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