Vantage Wealth lifted its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 21.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,726 shares of the information technology services provider's stock after acquiring an additional 11,088 shares during the quarter. Accenture comprises approximately 4.2% of Vantage Wealth's holdings, making the stock its 14th biggest holding. Vantage Wealth's holdings in Accenture were worth $18,748,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Accenture by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock valued at $19,912,594,000 after buying an additional 3,419,577 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Accenture by 63.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider's stock worth $2,793,889,000 after acquiring an additional 3,490,569 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Accenture by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,766,369 shares of the information technology services provider's stock worth $2,111,378,000 after acquiring an additional 228,939 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Accenture by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,163,393 shares of the information technology services provider's stock worth $1,923,225,000 after purchasing an additional 126,548 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Accenture by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,129,053 shares of the information technology services provider's stock worth $1,600,470,000 after buying an additional 164,573 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.
Insider Activity at Accenture
In other Accenture news, CEO Mauro Macchi sold 500 shares of Accenture 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 transaction, the chief executive officer owned 2,283 shares of the company's stock, valued at approximately $644,582.22. The trade was a 17.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 203 shares of the business's stock in a transaction on Friday, July 11th. The stock was 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,954 shares of company stock worth $834,280. 0.02% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on ACN shares. TD Cowen decreased their price objective on shares of Accenture from $342.00 to $313.00 and set a "buy" rating for the company in a report on Tuesday, September 9th. Susquehanna reduced their price target on shares of Accenture from $330.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday. HSBC started coverage on shares of Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 price target for the company. Morgan Stanley reduced their price target on shares of Accenture from $325.00 to $271.00 and set an "equal weight" rating for the company in a report on Tuesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.61.
Check Out Our Latest Report on Accenture
Accenture Price Performance
NYSE:ACN traded down $0.13 on Monday, reaching $239.57. The stock had a trading volume of 6,069,376 shares, compared to its average volume of 3,685,190. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $150.05 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29. Accenture PLC has a 1-year low of $234.18 and a 1-year high of $398.35. The stock has a fifty day moving average price of $257.73 and a 200-day moving average price of $289.02.
Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.13 EPS. Research analysts forecast that Accenture PLC will post 12.73 EPS for the current year.
About Accenture
(
Free Report)
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.
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