Accenture PLC $ACN Shares Sold by Argentarii LLC

Argentarii LLC reduced its stake in shares of Accenture PLC (NYSE:ACN) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,119 shares of the information technology services provider’s stock after selling 91 shares during the period. Argentarii LLC’s holdings in Accenture were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redwood Investments LLC increased its holdings in Accenture by 6.2% in the 1st quarter. Redwood Investments LLC now owns 22,087 shares of the information technology services provider’s stock worth $6,892,000 after buying an additional 1,287 shares during the period. Lipe & Dalton increased its stake in shares of Accenture by 2,087.4% in the first quarter. Lipe & Dalton now owns 5,031 shares of the information technology services provider’s stock worth $1,570,000 after acquiring an additional 4,801 shares during the period. Intech Investment Management LLC raised its holdings in shares of Accenture by 40.5% during the first quarter. Intech Investment Management LLC now owns 98,633 shares of the information technology services provider’s stock worth $30,777,000 after purchasing an additional 28,446 shares during the last quarter. Park National Corp OH lifted its position in Accenture by 4.3% during the second quarter. Park National Corp OH now owns 129,667 shares of the information technology services provider’s stock valued at $38,756,000 after purchasing an additional 5,388 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in Accenture by 1.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 234,066 shares of the information technology services provider’s stock valued at $69,960,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other news, 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 transaction of $57,315.02. Following the completion of the sale, the insider owned 5,249 shares in the company, valued at $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the transaction, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,954 shares of company stock valued at $834,280. 0.02% of the stock is owned by company insiders.

Accenture Trading Down 0.1%

Shares of Accenture stock opened at $239.57 on Tuesday. 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. The stock has a market cap of $150.05 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.07 and a beta of 1.30. The stock’s 50 day simple moving average is $256.92 and its 200-day simple moving average is $288.31.

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. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the company posted $3.13 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACN shares. Barclays decreased their price objective on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a report on Monday, June 23rd. TD Cowen decreased their price target on Accenture from $342.00 to $313.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. Guggenheim dropped their price objective on shares of Accenture from $335.00 to $305.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. 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 note on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Accenture from $290.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $335.61.

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.