XTX Topco Ltd Acquires New Position in Accenture plc (NYSE:ACN)

XTX Topco Ltd bought a new position in shares of Accenture plc (NYSE:ACN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,589 shares of the information technology services provider’s stock, valued at approximately $1,999,000.

Several other large investors have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC raised its holdings in Accenture by 2.3% during the fourth quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 48 shares during the period. Aveo Capital Partners LLC raised its stake in Accenture by 7.6% during the 4th quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after purchasing an additional 160 shares during the period. 9258 Wealth Management LLC boosted its stake in Accenture by 3.6% in the 4th quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $459,000 after purchasing an additional 46 shares during the period. Gryphon Financial Partners LLC grew its holdings in Accenture by 79.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock valued at $881,000 after buying an additional 1,123 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in shares of Accenture by 3.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $335.24 on Friday. The firm has a market capitalization of $210.09 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The business has a 50 day simple moving average of $331.50 and a two-hundred day simple moving average of $322.77. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. Accenture’s revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 11.95 EPS for the current fiscal year.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the sale, the chief financial officer now directly owns 38,570 shares in the company, valued at approximately $12,149,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ACN shares. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Jefferies Financial Group decreased their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Piper Sandler Companies cut their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Piper Sandler decreased their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Finally, Susquehanna reduced their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.59.

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.