13,282 Shares in Accenture PLC $ACN Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC purchased over 13,000 shares of Accenture PLC, valued at approximately $3.97 million, highlighting strong institutional interest in the company.
• Accenture reported earnings of $3.49 per share for the last quarter, surpassing expectations and showing a 7.7% year-over-year revenue increase to $17.73 billion.
• Analysts' ratings are mixed, with price targets ranging from $250 to $330, indicating varying levels of confidence in the stock's performance moving forward.

Abacus FCF Advisors LLC acquired a new stake in shares of Accenture PLC (NYSE:ACN - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,282 shares of the information technology services provider's stock, valued at approximately $3,970,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Accenture by 12.8% during the second quarter. Farther Finance Advisors LLC now owns 23,071 shares of the information technology services provider's stock valued at $6,896,000 after acquiring an additional 2,620 shares during the last quarter. Vantage Wealth lifted its position in Accenture by 21.5% during the second quarter. Vantage Wealth now owns 62,726 shares of the information technology services provider's stock valued at $18,748,000 after acquiring an additional 11,088 shares during the last quarter. Silver Oak Securities Incorporated lifted its position in Accenture by 5.2% during the second quarter. Silver Oak Securities Incorporated now owns 857 shares of the information technology services provider's stock valued at $256,000 after acquiring an additional 42 shares during the last quarter. CX Institutional lifted its position in Accenture by 17.3% during the second quarter. CX Institutional now owns 19,932 shares of the information technology services provider's stock valued at $5,957,000 after acquiring an additional 2,937 shares during the last quarter. Finally, Wright Investors Service Inc. purchased a new position in shares of Accenture in the second quarter worth $1,400,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Mauro Macchi sold 500 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the sale, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This represents a 17.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Angela Beatty sold 203 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,954 shares of company stock valued at $834,280. Insiders own 0.02% of the company's stock.

Accenture Stock Down 2.1%

Shares of ACN stock traded down $5.06 during trading on Tuesday, reaching $234.93. The company's stock had a trading volume of 3,494,968 shares, compared to its average volume of 3,683,713. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $147.14 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.07 and a beta of 1.30. The stock's 50-day moving average price is $256.92 and its 200 day moving average price is $288.31. Accenture PLC has a 1-year low of $234.10 and a 1-year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.Accenture's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.13 EPS. On average, research analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACN. Wolfe Research decreased their price target on shares of Accenture from $290.00 to $285.00 and set an "outperform" rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. BMO Capital Markets decreased their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research report on Monday, June 23rd. Guggenheim lowered their price target on shares of Accenture from $335.00 to $305.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Finally, Susquehanna lowered their price target on shares of Accenture from $330.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $329.52.

Accenture Company 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.