Accenture plc (NYSE:ACN) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management trimmed its position in Accenture plc (NYSE:ACN) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,978 shares of the information technology services provider’s stock after selling 92 shares during the period. Chesapeake Wealth Management’s holdings in Accenture were worth $2,117,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Accenture in the second quarter valued at about $26,000. Annapolis Financial Services LLC boosted its holdings in Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Accenture during the 2nd quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. boosted its stake in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

Shares of NYSE ACN opened at $336.22 on Friday. The company has a market cap 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 company has a 50-day simple moving average of $332.01 and a 200-day simple moving average of $322.44. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

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 the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Insider Activity

In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the sale, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at $12,149,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 over the last quarter. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Accenture from $320.00 to $329.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen boosted their price objective on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Guggenheim reaffirmed a “buy” rating and issued a $395.00 target price on shares of Accenture in a report on Friday, May 24th. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Friday, July 19th. Finally, The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average 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.