AllGen Financial Advisors Inc. Raises Position in Accenture plc (NYSE:ACN)

AllGen Financial Advisors Inc. grew its position in shares of Accenture plc (NYSE:ACN) by 20.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,520 shares of the information technology services provider’s stock after acquiring an additional 1,629 shares during the quarter. Accenture accounts for approximately 1.1% of AllGen Financial Advisors Inc.’s portfolio, making the stock its 25th largest holding. AllGen Financial Advisors Inc.’s holdings in Accenture were worth $2,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sienna Gestion boosted its stake in shares of Accenture by 0.5% in the 2nd quarter. Sienna Gestion now owns 54,528 shares of the information technology services provider’s stock worth $16,537,000 after buying an additional 293 shares during the last quarter. CCLA Investment Management boosted its position in Accenture by 0.4% in the second quarter. CCLA Investment Management now owns 281,779 shares of the information technology services provider’s stock worth $85,356,000 after purchasing an additional 996 shares during the last quarter. Elo Mutual Pension Insurance Co grew its stake in Accenture by 0.7% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 57,691 shares of the information technology services provider’s stock valued at $17,504,000 after purchasing an additional 402 shares during the period. Blair William & Co. IL increased its position in shares of Accenture by 0.5% during the 2nd quarter. Blair William & Co. IL now owns 637,853 shares of the information technology services provider’s stock valued at $193,531,000 after purchasing an additional 3,349 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Accenture by 3.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 61,208 shares of the information technology services provider’s stock worth $18,437,000 after purchasing an additional 2,266 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Price Performance

ACN stock opened at $336.17 on Thursday. The firm has a 50 day simple moving average of $330.75 and a two-hundred day simple moving average of $322.68. The stock has a market cap of $210.68 billion, a PE ratio of 30.78, a P/E/G ratio of 3.82 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

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

Insider Activity

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the company’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 $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, 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 three months, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Piper Sandler dropped their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Guggenheim reissued a “buy” rating and issued a $395.00 target price on shares of Accenture in a research report on Friday, May 24th. Barclays cut their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Finally, Piper Sandler Companies dropped their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Eleven equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.59.

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.