Summit Trail Advisors LLC Trims Holdings in Accenture plc (NYSE:ACN)

Summit Trail Advisors LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,091 shares of the information technology services provider’s stock after selling 622 shares during the quarter. Summit Trail Advisors LLC’s holdings in Accenture were worth $1,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock worth $20,699,110,000 after purchasing an additional 635,349 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Accenture by 1.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock worth $3,311,102,000 after purchasing an additional 131,544 shares during the last quarter. Capital Research Global Investors lifted its stake in Accenture by 2.0% during the first quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock worth $2,999,056,000 after purchasing an additional 173,107 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Accenture by 4.1% during the first quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock worth $1,316,086,000 after purchasing an additional 148,738 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Accenture by 6.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,044,810 shares of the information technology services provider’s stock worth $1,055,362,000 after purchasing an additional 178,003 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 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 filing with the SEC, which is available through this hyperlink. 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 transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were 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 of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 over the last three months. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. Piper Sandler Companies restated a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research note on Friday. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Friday, July 19th. Barclays dropped their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Mizuho increased their target price on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.41.

Accenture Stock Up 0.3 %

NYSE:ACN opened at $336.22 on Friday. The business’s 50-day moving average price is $332.01 and its 200 day moving average price is $322.06. The firm 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. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $16.47 billion for 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%. Accenture’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. Sell-side analysts expect that Accenture plc will post 11.95 EPS for the current year.

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.