Xponance Inc. Has $26.85 Million Stock Position in Accenture plc (NYSE:ACN)

Xponance Inc. trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 40.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,492 shares of the information technology services provider’s stock after selling 59,238 shares during the quarter. Xponance Inc.’s holdings in Accenture were worth $26,849,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. TrinityPoint Wealth LLC boosted its stake in shares of 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 buying an additional 125 shares during the period. Focus Financial Network Inc. ADV bought a new position in shares of Accenture in the fourth quarter worth $4,594,000. New Mexico Educational Retirement Board raised its stake 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 valued at $12,393,000 after purchasing an additional 3,900 shares in the last quarter. Platform Technology Partners lifted its position in Accenture by 7.0% during the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after purchasing an additional 131 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake 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 worth $63,584,000 after buying an additional 21,516 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the 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 transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were 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 directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock valued at $6,912,635 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN opened at $336.22 on Monday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The company’s 50 day moving average price is $332.01 and its 200-day moving average price is $321.64. The company has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last issued 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 business had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACN. TD Cowen upped their price target on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Susquehanna lowered their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. raised their price objective on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group initiated coverage on shares of Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. Finally, BMO Capital Markets decreased their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $356.41.

Accenture Company 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.