Transatlantique Private Wealth LLC Increases Stake in Accenture plc (NYSE:ACN)

Transatlantique Private Wealth LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,802 shares of the information technology services provider’s stock after buying an additional 433 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Accenture were worth $1,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACN. Pin Oak Investment Advisors Inc. increased its stake in Accenture by 8.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock valued at $125,000 after purchasing an additional 27 shares during the last quarter. IronBridge Private Wealth LLC grew its position in shares of Accenture by 2.3% in the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after buying an additional 28 shares during the last quarter. Kolinsky Wealth Management LLC raised its stake in Accenture by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after acquiring an additional 30 shares in the last quarter. Walled Lake Planning & Wealth Management LLC boosted its stake in Accenture by 0.3% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock valued at $4,120,000 after acquiring an additional 32 shares in the last quarter. Finally, West Paces Advisors Inc. grew its holdings in shares of Accenture by 10.2% during the first quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of NYSE ACN opened at $336.22 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The firm has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The company’s fifty day moving average is $332.01 and its two-hundred day moving average is $322.44.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 earnings per share. On average, sell-side analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ACN. Mizuho upped their target price on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen raised their target price on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. BMO Capital Markets decreased their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. Wedbush dropped their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Finally, Guggenheim reiterated a “buy” rating and set a $395.00 target price on shares of Accenture in a research note on Friday, May 24th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.41.

Insider Buying and Selling

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares in the company, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 in the last quarter. Company insiders own 0.07% of the company’s stock.

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.