Lombard Odier Asset Management Europe Ltd Buys 52,114 Shares of Accenture plc (NYSE:ACN)

Lombard Odier Asset Management Europe Ltd increased its stake in shares of Accenture plc (NYSE:ACN) by 223.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,436 shares of the information technology services provider’s stock after purchasing an additional 52,114 shares during the quarter. Accenture makes up about 1.1% of Lombard Odier Asset Management Europe Ltd’s portfolio, making the stock its 17th largest holding. Lombard Odier Asset Management Europe Ltd’s holdings in Accenture were worth $22,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACN. Evergreen Capital Management LLC lifted its stake in shares of Accenture by 4.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,517 shares of the information technology services provider’s stock valued at $1,977,000 after acquiring an additional 263 shares during the last quarter. Nippon Life Global Investors Americas Inc. increased its holdings in Accenture by 49.8% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 7,250 shares of the information technology services provider’s stock worth $2,200,000 after purchasing an additional 2,410 shares in the last quarter. DRW Securities LLC bought a new position in Accenture in the second quarter valued at about $2,334,000. Edge Capital Group LLC boosted its stake in shares of Accenture by 6.8% during the second quarter. Edge Capital Group LLC now owns 14,856 shares of the information technology services provider’s stock valued at $4,507,000 after purchasing an additional 941 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Accenture by 15.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,493 shares of the information technology services provider’s stock worth $1,485,000 after purchasing an additional 589 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.3 %

Shares of ACN stock opened at $336.22 on Monday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The firm has a market capitalization of $210.71 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The firm has a fifty day simple moving average of $332.01 and a two-hundred day simple moving average of $321.64.

Accenture (NYSE:ACN) last posted its 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). The business had revenue of $16.47 billion during 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 revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. On average, equities analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACN has been the topic of several recent research reports. Citigroup lifted their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler Companies reissued a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research note on Friday. Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Mizuho increased their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Finally, Piper Sandler lifted their price objective on Accenture from $320.00 to $329.00 and gave the stock a “neutral” rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.41.

Insider Activity

In related news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The stock was 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 directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now directly 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 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.

Accenture 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.