Accenture plc (NYSE:ACN) Shares Sold by Lavaca Capital LLC

Lavaca Capital LLC reduced its holdings in Accenture plc (NYSE:ACN) by 65.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950 shares of the information technology services provider’s stock after selling 1,768 shares during the quarter. Lavaca Capital LLC’s holdings in Accenture were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Swedbank AB acquired a new stake in shares of Accenture in the first quarter valued at about $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after acquiring an additional 875,723 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $288,168,000. Generation Investment Management LLP acquired a new stake in shares of Accenture in the 4th quarter worth approximately $286,220,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Accenture during the fourth quarter worth $263,421,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACN. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $382.00 to $300.00 in a research report on Wednesday, June 26th. Piper Sandler Companies restated a “neutral” rating and set a $329.00 target price on shares of Accenture in a research report on Friday. Citigroup increased their price target on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Susquehanna dropped their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.41.

Accenture Price Performance

Accenture stock opened at $336.22 on Friday. The company has a market cap of $210.71 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The stock’s 50-day moving average is $332.01 and its 200-day moving average is $322.06.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same period last year, the business earned $3.19 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Insider Activity

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was 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 in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the firm’s 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 sale, the insider now directly 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. Over the last quarter, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

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.