Profund Advisors LLC Purchases 840 Shares of Accenture plc (NYSE:ACN)

Profund Advisors LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,052 shares of the information technology services provider’s stock after buying an additional 840 shares during the period. Profund Advisors LLC’s holdings in Accenture were worth $3,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. TrinityPoint Wealth LLC raised its stake in Accenture by 3.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 125 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Accenture during the 4th quarter worth $4,594,000. New Mexico Educational Retirement Board grew its position in Accenture by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after acquiring an additional 3,900 shares in the last quarter. Platform Technology Partners increased its stake in Accenture by 7.0% in the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock valued at $733,000 after acquiring an additional 131 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after purchasing an additional 21,516 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays reduced their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Bank of America decreased their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. The Goldman Sachs Group began coverage on shares of Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Finally, TD Cowen upped their price target on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $356.41.

Insider Activity

In related 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 directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,421 shares of company stock worth $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $336.22 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock’s 50 day simple moving average is $332.01 and its two-hundred day simple moving average is $322.06. The stock has a market cap of $210.71 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly 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 firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 earnings per share. On average, analysts predict that Accenture plc will post 11.95 earnings per share for the current year.

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.