EverSource Wealth Advisors LLC Purchases 589 Shares of Accenture plc (NYSE:ACN)

EverSource Wealth Advisors LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,493 shares of the information technology services provider’s stock after purchasing an additional 589 shares during the period. EverSource Wealth Advisors LLC’s holdings in Accenture were worth $1,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Swedbank AB purchased a new stake in shares of Accenture in the 1st quarter valued at $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in 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 worth $614,615,000 after purchasing an additional 875,723 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Accenture during the 4th quarter valued at about $288,168,000. Generation Investment Management LLP acquired a new position in shares of Accenture in the 4th quarter valued at about $286,220,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Accenture during the fourth quarter worth about $263,421,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACN. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Friday, July 19th. Stifel Nicolaus cut their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. The Goldman Sachs Group began coverage on Accenture in a research report on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price on the stock. Mizuho increased their price objective on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Finally, Bank of America lowered their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $356.41.

Accenture Stock Up 0.3 %

NYSE ACN opened at $336.22 on Monday. The stock has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a P/E/G 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. The firm has a 50-day moving average price of $332.01 and a 200 day moving average price of $321.64.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 period last year, the business posted $3.19 EPS. Accenture’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the 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 sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the company’s 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 sale, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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. Insiders sold 21,421 shares of company stock valued at $6,912,635 in the last 90 days. 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.