Heron Bay Capital Management Grows Holdings in Accenture plc (NYSE:ACN)

Heron Bay Capital Management grew its position in Accenture plc (NYSE:ACN) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,742 shares of the information technology services provider’s stock after purchasing an additional 102 shares during the quarter. Heron Bay Capital Management’s holdings in Accenture were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. boosted its holdings in Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after buying an additional 27 shares during the period. IronBridge Private Wealth LLC boosted its stake in shares of Accenture by 2.3% in the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock worth $433,000 after acquiring an additional 28 shares during the period. Kolinsky Wealth Management LLC grew its position in shares of Accenture by 1.0% during the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after purchasing an additional 30 shares in the last quarter. Walled Lake Planning & Wealth Management LLC raised its stake in Accenture by 0.3% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock valued at $4,120,000 after purchasing an additional 32 shares during the period. Finally, West Paces Advisors Inc. lifted its holdings in Accenture by 10.2% in the 1st quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

Accenture stock opened at $336.22 on Friday. The firm has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company’s 50-day moving average is $332.01 and its 200 day moving average is $322.06.

Accenture (NYSE:ACN) last issued its quarterly 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 business had revenue of $16.47 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $3.19 earnings per share. Research analysts anticipate that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACN has been the topic of several recent analyst reports. The Goldman Sachs Group began coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective on the stock. BMO Capital Markets decreased their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, June 21st. Citigroup raised their price objective on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus cut their price target on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $356.41.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the business’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 sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares in the company, valued at $12,149,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by insiders.

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.