1832 Asset Management L.P. Buys 712,400 Shares of Accenture plc (NYSE:ACN)

1832 Asset Management L.P. boosted its stake in shares of Accenture plc (NYSE:ACN) by 251.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 995,896 shares of the information technology services provider’s stock after purchasing an additional 712,400 shares during the quarter. 1832 Asset Management L.P. owned about 0.16% of Accenture worth $302,165,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ACN. Annapolis Financial Services LLC lifted its holdings in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Accenture during the fourth quarter worth approximately $29,000. Atwood & Palmer Inc. lifted its holdings in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Accenture during the second quarter worth approximately $26,000. Finally, Grayhawk Investment Strategies Inc. acquired a new position in shares of Accenture during the fourth quarter worth approximately $35,000. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent research reports. BMO Capital Markets cut their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. Susquehanna cut their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Citigroup upped their target price on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. 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 target price for the company. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $356.41.

Insider Buying and Selling

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture 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 completion of the sale, the chief financial officer now directly owns 38,570 shares in the company, valued at $12,149,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture 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 completion of the sale, the chief financial officer now directly owns 38,570 shares in the company, valued at $12,149,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 over the last three months. 0.07% of the stock is currently owned by company insiders.

Accenture Stock Performance

Shares of NYSE:ACN opened at $336.22 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm 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 business has a fifty day moving average of $332.01 and a 200-day moving average of $322.06.

Accenture (NYSE:ACN) last announced its 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 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 business posted $3.19 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal 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.