Wright Investors Service Inc. Acquires Shares of 4,683 Accenture PLC $ACN

Wright Investors Service Inc. acquired a new stake in Accenture PLC (NYSE:ACN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,683 shares of the information technology services provider’s stock, valued at approximately $1,400,000.

Other large investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in shares of Accenture in the 4th quarter worth approximately $31,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Accenture in the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Accenture in the 1st quarter worth approximately $32,000. Capital A Wealth Management LLC purchased a new stake in shares of Accenture in the 4th quarter worth approximately $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of Accenture in the 1st quarter worth approximately $42,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the stock in a transaction on Friday, July 11th. The shares were 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 in the company, valued at $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 203 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider directly owned 5,249 shares in the company, valued at $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on ACN. Stifel Nicolaus decreased their target price on shares of Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday. Hsbc Global Res raised shares of Accenture to a “moderate sell” rating in a research report on Monday, July 28th. Evercore ISI began coverage on shares of Accenture in a research report on Thursday, July 17th. They set an “outperform” rating and a $330.00 target price for the company. Robert W. Baird decreased their target price on shares of Accenture from $372.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Susquehanna decreased their target price on shares of Accenture from $330.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $335.39.

Accenture Trading Up 0.5%

Shares of Accenture stock opened at $240.65 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12-month low of $234.18 and a 12-month high of $398.35. The firm has a market capitalization of $150.73 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.07 and a beta of 1.29. The firm’s 50 day simple moving average is $257.73 and its two-hundred day simple moving average is $289.79.

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

About Accenture

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.