Abacus FCF Advisors LLC Purchases New Holdings in Accenture PLC $ACN

Abacus FCF Advisors LLC bought a new position in shares of Accenture PLC (NYSE:ACN) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 13,282 shares of the information technology services provider’s stock, valued at approximately $3,970,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ACN. Redwood Investments LLC grew its holdings in Accenture by 6.2% during the 1st quarter. Redwood Investments LLC now owns 22,087 shares of the information technology services provider’s stock worth $6,892,000 after acquiring an additional 1,287 shares during the period. Lipe & Dalton grew its position in shares of Accenture by 2,087.4% during the 1st quarter. Lipe & Dalton now owns 5,031 shares of the information technology services provider’s stock valued at $1,570,000 after purchasing an additional 4,801 shares in the last quarter. Intech Investment Management LLC lifted its stake in Accenture by 40.5% in 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 raised its stake in shares of 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 acquiring an additional 5,388 shares during the last quarter. Finally, Czech National Bank grew its holdings in Accenture by 6.6% in the second quarter. Czech National Bank now owns 153,099 shares of the information technology services provider’s stock worth $45,760,000 after purchasing an additional 9,436 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Price Performance

Accenture stock opened at $240.65 on Friday. Accenture PLC has a 12-month low of $234.18 and a 12-month high of $398.35. The stock has a market cap of $150.73 billion, a P/E ratio of 19.16, a PEG ratio of 2.07 and a beta of 1.29. The company has a 50-day moving average price of $257.73 and a 200 day moving average price of $289.38. 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 (NYSE:ACN) last released its quarterly earnings data 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. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period last year, the business earned $3.13 earnings per share. Accenture’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Angela Beatty sold 203 shares of the company’s stock in a transaction 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 in the company, valued at $1,482,002.66. This represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the company’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares of the company’s stock, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock worth $834,280 over the last 90 days. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACN. Morgan Stanley lowered their price objective on shares of Accenture from $325.00 to $271.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 9th. Rothschild & Co Redburn cut shares of Accenture from a “buy” rating to a “neutral” rating and set a $250.00 price target for the company. in a research note on Wednesday, September 3rd. Evercore ISI began coverage on shares of Accenture in a report on Thursday, July 17th. They set an “outperform” rating and a $330.00 price objective for the company. Hsbc Global Res upgraded shares of Accenture to a “moderate sell” rating in a report on Monday, July 28th. Finally, Stifel Nicolaus reduced their price objective on shares of Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average price target of $335.39.

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.