Tran Capital Management L.P. Has $3.57 Million Position in Accenture PLC $ACN

Tran Capital Management L.P. lowered its holdings in Accenture PLC (NYSE:ACN) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,949 shares of the information technology services provider’s stock after selling 469 shares during the quarter. Tran Capital Management L.P.’s holdings in Accenture were worth $3,571,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Accenture during the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Accenture during the 4th quarter valued at $34,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Accenture during the 1st quarter valued at $31,000. Inlight Wealth Management LLC bought a new position in Accenture during the 1st quarter valued at $32,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Accenture during the 4th quarter worth $47,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Performance

NYSE:ACN opened at $240.65 on Friday. The business has a 50 day moving average of $257.73 and a 200 day moving average of $289.38. The company 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. Accenture PLC has a 1-year low of $234.18 and a 1-year high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Accenture (NYSE:ACN) last released its earnings results 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 company had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.Accenture’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. On average, sell-side analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of recent analyst reports. HSBC initiated coverage on Accenture in a research note on Monday, July 28th. They set a “reduce” rating and a $240.00 target price on the stock. Benchmark reiterated a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. TD Cowen lowered their price objective on Accenture from $342.00 to $313.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. Barclays lowered their price objective on Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research note on Monday, June 23rd. Finally, Argus set a $370.00 price objective on Accenture in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $335.39.

Insider Buying and Selling

In other Accenture news, CEO Mauro Macchi sold 500 shares of the business’s 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 completion of the sale, the chief executive officer owned 2,283 shares in the company, valued at approximately $644,582.22. The trade was a 17.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 203 shares of the business’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 sale, the insider owned 5,249 shares of the company’s stock, valued at $1,482,002.66. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock worth $834,280 in the last quarter. 0.02% of the stock is owned by insiders.

Accenture 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.