Accenture plc (NYSE:ACN) Position Boosted by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 16,888.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,363 shares of the information technology services provider’s stock after acquiring an additional 10,302 shares during the period. Frank Rimerman Advisors LLC’s holdings in Accenture were worth $3,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ACN. Swedbank AB acquired a new stake in Accenture in the first quarter worth about $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after acquiring an additional 875,723 shares during the period. Winslow Capital Management LLC bought a new position in shares of Accenture in the fourth quarter valued at approximately $288,168,000. Generation Investment Management LLP acquired a new position in shares of Accenture during the fourth quarter valued at approximately $286,220,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Accenture during the fourth quarter worth approximately $263,421,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $336.22 on Friday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a market capitalization of $210.71 billion, a PE ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The company’s 50 day moving average price is $332.01 and its 200 day moving average price is $322.06.

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

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research reports. Wedbush decreased their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. TD Cowen lifted their target price on Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Mizuho upped their price target on shares of Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday. Susquehanna lowered their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Finally, Jefferies Financial Group cut their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $356.41.

Insider Buying and Selling at Accenture

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

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.