Financiere des Professionnels Fonds d investissement inc. Decreases Stake in Accenture PLC $ACN

Key Points

• Financiere des Professionnels Fonds d investissement inc. has sold 2,778 shares of Accenture PLC, reducing its stake by 5.2%, leaving it with 50,780 shares valued at approximately $15.2 million.
• Analysts have given Accenture a consensus rating of "Moderate Buy," with a target price averaging around $340.13, after various reports indicated mixed views on the stock.
• Accenture recently reported earnings of $3.49 per share, surpassing expectations, and noted a revenue of $17.73 billion, reflecting a year-over-year growth of 7.7%.

Financiere des Professionnels Fonds d investissement inc. trimmed its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,780 shares of the information technology services provider's stock after selling 2,778 shares during the quarter. Accenture accounts for about 0.9% of Financiere des Professionnels Fonds d investissement inc.'s holdings, making the stock its 23rd largest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in Accenture were worth $15,178,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mpwm Advisory Solutions LLC bought a new position in Accenture in the 4th quarter worth about $30,000. Park Square Financial Group LLC bought a new position in Accenture in the 4th quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in Accenture in the 4th quarter worth about $34,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Accenture in the 1st quarter worth about $31,000. Finally, Inlight Wealth Management LLC bought a new position in Accenture in the 1st quarter worth about $32,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Up 0.5%

NYSE:ACN traded up $1.10 during trading hours on Friday, reaching $240.65. 11,449,719 shares of the company traded hands, compared to its average volume of 3,980,534. The business's 50-day moving average price is $257.73 and its two-hundred day moving average price is $289.38. The stock has a market capitalization of $150.73 billion, a P/E ratio of 19.16, a P/E/G 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 company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 earnings per share. Analysts predict that Accenture PLC will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research analyst reports. Evercore ISI assumed coverage on Accenture in a research note on Thursday, July 17th. They issued an "outperform" rating and a $330.00 target price on the stock. Rothschild Redb lowered Accenture from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Mizuho set a $348.00 price objective on Accenture and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Guggenheim reduced their price objective on Accenture from $335.00 to $305.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Barclays reduced their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research report on Monday, June 23rd. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $335.39.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 203 shares of Accenture 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 transaction, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mauro Macchi sold 500 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the sale, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,954 shares of company stock valued at $834,280. Corporate insiders own 0.02% of the company's stock.

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.