Accenture PLC $ACN Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden nearly doubled its Accenture position in the second quarter, increasing holdings by 92.5% to 121,326 shares valued at approximately $15.1 million. Institutional investors collectively own 75.14% of Accenture.
• Accenture is expanding its AI, cloud and cybersecurity businesses through partnerships with Anthropic, AWS and Google Cloud, as well as its majority-stake acquisition of Dragos. These initiatives support long-term growth but face risks from consulting-pricing pressure, weaker margins and AI disruption.
• Accenture authorized a $2 billion share buyback, while analysts remain divided: the stock carries a consensus “Hold” rating with an average price target of $198.04, compared with a recent price of $183.63.

Andra AP fonden grew its holdings in Accenture PLC (NYSE:ACN - Free Report) by 92.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,326 shares of the information technology services provider's stock after buying an additional 58,300 shares during the quarter. Andra AP fonden's holdings in Accenture were worth $15,098,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Smith Chas P & Associates PA Cpas boosted its position in Accenture by 8.3% during the second quarter. Smith Chas P & Associates PA Cpas now owns 172,023 shares of the information technology services provider's stock worth $21,406,000 after purchasing an additional 13,244 shares in the last quarter. National Pension Service raised its stake in shares of Accenture by 5.6% during the 2nd quarter. National Pension Service now owns 1,564,857 shares of the information technology services provider's stock worth $194,731,000 after buying an additional 82,362 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Accenture by 5.2% in the 2nd quarter. Engineers Gate Manager LP now owns 15,708 shares of the information technology services provider's stock worth $1,955,000 after buying an additional 781 shares in the last quarter. Cidel Asset Management Inc. boosted its position in shares of Accenture by 26.7% in the 2nd quarter. Cidel Asset Management Inc. now owns 6,071 shares of the information technology services provider's stock worth $755,000 after buying an additional 1,278 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its stake in Accenture by 43.9% in the 2nd quarter. C WorldWide Group Holding A S now owns 6,777 shares of the information technology services provider's stock valued at $843,000 after acquiring an additional 2,069 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

More Accenture News

Here are the key news stories impacting Accenture this week:

• Positive Sentiment: Anthropic AI-safety partnership supports Accenture’s AI positioning. Anthropic will embed an Accenture evaluation team to conduct model safety testing, red-teaming and alignment assessments. Both companies plan to invest at least $1 billion over five years, strengthening Accenture’s credentials in the expanding AI-governance market. Accenture ACN Stock Is Up, What You Need To Know
• Positive Sentiment: New AI and cloud offerings with Amazon Web Services target mid-sized companies. The initiative could broaden Accenture’s customer base and create additional demand for cloud migration, data and generative-AI services. Accenture, AWS launch AI and cloud offerings for mid-sized companies
• Positive Sentiment: Accenture and Google Cloud expanded their automotive software relationship with Volvo Cars. Volvo became the lead industry partner for Horizon, an open-source platform intended to make software development for Android Automotive more efficient. The deal highlights potential growth in automotive technology services. Accenture and Google Cloud Transform Software Development with Volvo Cars
• Positive Sentiment: Accenture completed the acquisition of a majority stake in Dragos. The cybersecurity investment expands Accenture’s capabilities in industrial and critical-infrastructure security, although financial details were not disclosed. Accenture completed the acquisition of a majority stake in Dragos
• Neutral Sentiment: Valuation remains a central debate. Analysts describe ACN as undervalued relative to estimated intrinsic value, while its low earnings multiple has contributed to the stock’s strong three-month rebound. However, shares remain well below their three-year high, leaving investors divided over how much upside remains. Is It Too Late To Make Money On Accenture Stock After Its Rebound?
• Negative Sentiment: Profit-taking and AI-related risks are limiting momentum. Commentary points to pressure on consulting pricing and revenue from AI, weaker margin and book-to-bill trends, and the possibility that much of the rebound has already occurred. One analysis retained a favorable long-term view but lowered its rating, contributing to a more cautious near-term investor response. AI Is Coming For Consulting, But Accenture Is Fighting Back

Insider Buying and Selling

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of Accenture stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the transaction, the general counsel owned 17,735 shares in the company, valued at $2,890,450.30. This trade represents a 37.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company's stock.

Accenture Trading Down 1.3%

NYSE ACN opened at $183.63 on Wednesday. The company has a market cap of $122.63 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.50 and a beta of 1.10. Accenture PLC has a 12 month low of $118.15 and a 12 month high of $291.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50-day moving average of $173.99 and a 200-day moving average of $174.53.

Accenture announced that its board has initiated a share buyback plan on Tuesday, June 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research reports. UBS Group restated a "buy" rating on shares of Accenture in a research report on Wednesday, August 26th. Wolfe Research raised their price objective on shares of Accenture from $165.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Truist Financial cut their price objective on Accenture from $210.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, June 22nd. Susquehanna reduced their target price on Accenture from $186.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, June 22nd. Finally, Berenberg Bank dropped their price target on Accenture from $273.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Ten analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $198.04.

About Accenture

Accenture plc is a global professional services company that helps organizations improve business performance through consulting, technology, and managed services. Its offerings include strategy and consulting, technology implementation, operations support, and business process services.

The company provides digital transformation services involving cloud computing, artificial intelligence, data and analytics, cybersecurity, systems integration, and enterprise software. Through its Song and Industry X businesses, Accenture also supports customer experience, marketing, product engineering, and smart manufacturing initiatives.

Accenture serves clients across a broad range of industries, including financial services, health care, public service, communications, media and technology, consumer goods, retail, resources, and industrial markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.