Arlington Partners LLC Has $4.28 Million Stake in Accenture PLC $ACN

Key Points

• Arlington Partners LLC increased its stake in Accenture PLC by 22.5%, owning 14,330 shares worth approximately $4.28 million as of the latest SEC filing.
• Accenture reported earnings of $3.49 per share for the last quarter, exceeding analysts' estimates by $0.17, and achieved a revenue of $17.73 billion, up 7.7% year-over-year.
• CEO Julie Spellman Sweet sold 2,251 shares for nearly $636,000, indicating a 21.73% decrease in her position, while insiders collectively sold 2,954 shares worth $834,280 over the last quarter.

Arlington Partners LLC raised its stake in Accenture PLC (NYSE:ACN - Free Report) by 22.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,330 shares of the information technology services provider's stock after buying an additional 2,635 shares during the period. Arlington Partners LLC's holdings in Accenture were worth $4,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ACN. Brighton Jones LLC grew its holdings in Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock worth $6,486,000 after buying an additional 4,905 shares in the last quarter. Two Sigma Advisers LP boosted its position in Accenture by 14.9% during the fourth quarter. Two Sigma Advisers LP now owns 8,500 shares of the information technology services provider's stock worth $2,990,000 after purchasing an additional 1,100 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Accenture during the fourth quarter worth $47,000. Forum Financial Management LP boosted its stake in Accenture by 2.8% in the 4th quarter. Forum Financial Management LP now owns 4,646 shares of the information technology services provider's stock worth $1,634,000 after purchasing an additional 127 shares during the period. Finally, Fidelity D & D Bancorp Inc. grew its stake in Accenture by 6.4% during the fourth quarter. Fidelity D & D Bancorp Inc. now owns 745 shares of the information technology services provider's stock valued at $262,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Stock Down 0.1%

Shares of NYSE:ACN traded down $0.13 during trading on Monday, hitting $239.57. 6,069,376 shares of the company were exchanged, compared to its average volume of 4,401,517. The firm's 50 day moving average price is $256.92 and its 200-day moving average price is $288.31. The stock has a market capitalization of $150.05 billion, a P/E ratio of 19.07, a PEG ratio of 2.07 and a beta of 1.30. Accenture PLC has a 12-month low of $234.18 and a 12-month high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACN. JPMorgan Chase & Co. dropped their target price on shares of Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Stifel Nicolaus lowered their price objective on shares of Accenture from $355.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Morgan Stanley cut their target price 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. Susquehanna lowered their price objective on Accenture from $330.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Guggenheim cut their price target on Accenture from $335.00 to $305.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $335.61.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of the firm's 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 transaction, the insider owned 5,249 shares of the company's stock, valued at $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the sale, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. This represents a 21.73% 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 worth $834,280. 0.02% of the stock is currently owned by company 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.