Accenture PLC $ACN Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. trimmed its holdings in Accenture PLC (NYSE:ACN) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,150 shares of the information technology services provider’s stock after selling 66 shares during the period. Weatherly Asset Management L. P.’s holdings in Accenture were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of Accenture during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC bought a new stake in Accenture in the fourth quarter worth about $34,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture during the 1st quarter worth about $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture in the 1st quarter valued at about $32,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Accenture in the 4th quarter valued at approximately $47,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, CEO Mauro Macchi sold 500 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the sale, the chief executive officer owned 2,283 shares of the company’s stock, valued at approximately $644,582.22. This trade represents a 17.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 203 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider owned 5,249 shares of the company’s stock, valued at approximately $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,954 shares of company stock valued at $834,280. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ACN shares. Rothschild & Co Redburn lowered Accenture from a “buy” rating to a “neutral” rating and set a $250.00 price target for the company. in a report on Wednesday, September 3rd. Rothschild Redb lowered Accenture from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Morgan Stanley dropped their price objective on Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 9th. Stifel Nicolaus dropped their price objective on Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Mizuho set a $348.00 target price on Accenture and gave the stock an “outperform” rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus target price of $335.39.

Accenture Stock Up 0.5%

Shares of Accenture stock opened at $240.65 on Friday. The business’s 50 day simple moving average is $257.73 and its 200 day simple moving average is $289.79. Accenture PLC has a 52-week low of $234.18 and a 52-week high of $398.35. The firm has a market cap of $150.73 billion, a PE ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Accenture (NYSE:ACN) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter last year, the firm earned $3.13 EPS. Accenture’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.