Nippon Life Global Investors Americas Inc. Grows Position in Accenture plc (NYSE:ACN)

Nippon Life Global Investors Americas Inc. grew its position in shares of Accenture plc (NYSE:ACN) by 49.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,250 shares of the information technology services provider’s stock after acquiring an additional 2,410 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Accenture were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new stake in Accenture in the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC increased its position in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Accenture during the second quarter worth $28,000. Ables Iannone Moore & Associates Inc. purchased a new position in Accenture in the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. grew its stake in Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.3 %

NYSE:ACN opened at $336.22 on Monday. The stock has a market cap of $210.71 billion, a P/E ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The business’s 50-day moving average price is $332.01 and its two-hundred day moving average price is $321.64. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) 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 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 previous year, the firm earned $3.19 earnings per share. On average, equities research analysts expect that Accenture plc will post 11.95 EPS for the current fiscal year.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of Accenture 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 sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of Accenture 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 transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research analyst reports. Citigroup boosted their price target on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group decreased their price target 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. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $382.00 to $300.00 in a research note on Wednesday, June 26th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.41.

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.