Accenture PLC $ACN Stock Position Lowered by GSB Wealth Management LLC

GSB Wealth Management LLC lessened its position in Accenture PLC (NYSE:ACN) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,254 shares of the information technology services provider’s stock after selling 298 shares during the quarter. GSB Wealth Management LLC’s holdings in Accenture were worth $1,570,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ACN. Price T Rowe Associates Inc. MD lifted its position in shares of Accenture by 63.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider’s stock valued at $2,793,889,000 after acquiring an additional 3,490,569 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Accenture by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider’s stock valued at $19,912,594,000 after acquiring an additional 3,419,577 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after acquiring an additional 3,410,248 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Accenture by 2,782.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,445,281 shares of the information technology services provider’s stock valued at $450,985,000 after acquiring an additional 1,395,135 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $225,217,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $239.57 on Tuesday. The company has a market capitalization of $150.05 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. Accenture PLC has a one year low of $234.18 and a one 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 company’s fifty day moving average price is $256.92 and its 200 day moving average price is $288.31.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.17. The company 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% on a year-over-year basis. During the same period last year, the business posted $3.13 EPS. As a group, analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 8,109 shares in the company, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mauro Macchi sold 500 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ACN. Mizuho set a $348.00 target price on shares of Accenture and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. Robert W. Baird cut 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, September 16th. Argus set a $370.00 target price on shares of Accenture in a research report on Tuesday, June 24th. Benchmark reiterated a “mixed” rating on shares of Accenture in a research report on Friday, June 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Accenture from $290.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. One investment 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. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus target price of $335.61.

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.