Park Avenue Securities LLC Decreases Stock Holdings in Accenture PLC $ACN

Key Points

• Park Avenue Securities LLC has reduced its holdings in Accenture PLC (ACN) by 8.5%, now owning 33,348 shares valued at approximately $9.97 million.
• CEO Mauro Macchi and insider Angela Beatty both sold shares on July 11th, contributing to a total insider sell of 2,954 shares worth $834,280 in the last quarter.
• Analysts' price targets for Accenture's stock have been adjusted, with a consensus target of $335.39 and ratings ranging from Strong Buy to Sell.

Park Avenue Securities LLC reduced its holdings in Accenture PLC (NYSE:ACN - Free Report) by 8.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,348 shares of the information technology services provider's stock after selling 3,111 shares during the period. Park Avenue Securities LLC's holdings in Accenture were worth $9,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $31,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Accenture during the first quarter valued at $31,000. Inlight Wealth Management LLC purchased a new position in Accenture during the first quarter valued at $32,000. Capital A Wealth Management LLC purchased a new position in shares of Accenture in the fourth quarter worth about $34,000. Finally, WPG Advisers LLC acquired a new stake in Accenture during the first quarter worth about $42,000. Institutional investors own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACN shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a research report on Thursday, September 11th. Morgan Stanley lowered their price target on shares of Accenture from $325.00 to $271.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 9th. TD Cowen reduced their target price on shares of Accenture from $342.00 to $313.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. Rothschild Redb lowered shares of Accenture from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Guggenheim decreased their price target on shares of Accenture from $335.00 to $305.00 and set a "buy" rating for the company in a research report on Wednesday, September 17th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and an average price target of $335.61.

Accenture Stock Down 0.1%

Shares of NYSE ACN traded down $0.13 during trading hours on Monday, hitting $239.57. The stock had a trading volume of 6,069,376 shares, compared to its average volume of 4,401,517. The company has a market capitalization of $150.05 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.07 and a beta of 1.30. The firm's 50-day moving average price is $256.92 and its two-hundred day moving average price is $288.31. Accenture PLC has a 52 week low of $234.18 and a 52 week high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating the consensus estimate 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 posted $3.13 EPS. Analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer directly owned 8,109 shares in the company, valued at $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 203 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares in the company, valued at $1,482,002.66. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock worth $834,280 over the last three months. 0.02% of the stock is currently owned by insiders.

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.