Accenture Plc (NYSE:ACN) Shorted Shares Increased By 7.88%


The stock of Accenture Plc (NYSE:ACN) registered an increase of 7.88% in short interest. ACN’s total short interest was 12.09M shares in September as published by FINRA. Its up 7.88% from 11.21M shares, reported previously. With 1.80 million shares average volume, it will take short sellers 7 days to cover their ACN’s short positions. The short interest to Accenture Plc’s float is 1.95%. About 1.17 million shares traded hands. Accenture Plc (NYSE:ACN) has risen 18.61% since February 8, 2016 and is uptrending. It has outperformed by 2.12% the S&P500.

Accenture plc is engaged in providing management consulting, technology and outsourcing services. The company has a market cap of $73.28 billion. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. It has a 18.62 P/E ratio. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.

The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.10, from 0.89 in 2016Q1. The ratio fall, as 49 funds sold all Accenture Plc shares owned while 392 reduced positions. 49 funds bought stakes while 298 increased positions. They now own 430.38 million shares or 1.76% less from 438.10 million shares in 2016Q1.

Csu Producer Resources Inc. holds 14.3% of its portfolio in Accenture Plc for 20,000 shares. Sloane Robinson Llp owns 107,000 shares or 10.54% of their US portfolio. Moreover, Praesidium Investment Management Company Llc has 8.57% invested in the company for 867,002 shares. The Florida-based Suncoast Equity Management has invested 8.14% in the stock. Provident Trust Co, a Wisconsin-based fund reported 1.23 million shares.

Out of 15 analysts covering Accenture PLC (NYSE:ACN), 7 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 47% are positive. Accenture PLC has been the topic of 23 analyst reports since September 21, 2015 according to StockzIntelligence Inc. Wedbush initiated the stock on September 9 with “Outperform” rating.

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