Accenture PLC $ACN Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Accenture PLC (NYSE:ACN) by 1,715.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,865 shares of the information technology services provider’s stock after acquiring an additional 14,991 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Accenture were worth $4,742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Park Square Financial Group LLC acquired a new stake in Accenture during the 4th quarter valued at $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture during the 1st quarter valued at $31,000. Inlight Wealth Management LLC acquired a new stake in Accenture during the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new stake in Accenture during the 1st quarter valued at $42,000. Finally, Atwood & Palmer Inc. raised its stake in Accenture by 407.4% during the 1st quarter. Atwood & Palmer Inc. now owns 137 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 1.6%

ACN stock opened at $239.29 on Thursday. 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 PLC has a 52-week low of $234.10 and a 52-week high of $398.35. The company has a 50-day moving average of $255.29 and a two-hundred day moving average of $287.60. The stock has a market capitalization of $149.87 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela Beatty sold 203 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider owned 5,249 shares of the company’s stock, 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 sold 2,954 shares of company stock worth $834,280 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ACN shares. BMO Capital Markets dropped their price target on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday, June 23rd. Argus set a $370.00 price target on shares of Accenture in a research note on Tuesday, June 24th. UBS Group dropped their price target on shares of Accenture from $363.00 to $315.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho set a $348.00 price target on shares of Accenture and gave the stock an “outperform” rating in a research note on Tuesday, June 24th. Finally, HSBC began coverage on shares of Accenture in a research note on Monday, July 28th. They issued a “reduce” rating and a $240.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.83.

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.