Avity Investment Management Inc. Decreases Stake in Accenture PLC $ACN

Key Points

• Avity Investment Management Inc. reduced its stake in Accenture PLC by 15.1%, now holding 106,095 shares worth approximately $31.7 million.
• Accenture's latest quarterly earnings beat analysts' expectations with an EPS of $3.49 and revenue of $17.73 billion, marking a year-over-year revenue increase of 7.7%.
• Major investment firms are adjusting their positions in Accenture, with many reporting new purchases, while analysts have varied target price adjustments, indicating a generally optimistic outlook.

Avity Investment Management Inc. cut its holdings in Accenture PLC (NYSE:ACN - Free Report) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,095 shares of the information technology services provider's stock after selling 18,835 shares during the period. Accenture comprises about 2.4% of Avity Investment Management Inc.'s holdings, making the stock its 21st largest position. Avity Investment Management Inc.'s holdings in Accenture were worth $31,711,000 at the end of the most recent quarter.

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

Accenture Trading Down 2.3%

NYSE ACN opened at $238.55 on Monday. The firm has a market cap of $149.41 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock's 50-day moving average is $263.21 and its 200-day moving average is $292.74. Accenture PLC has a one year low of $236.67 and a one year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.Accenture's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.13 earnings per share. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. Sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research analyst reports. Barclays lowered their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research note on Monday, June 23rd. Mizuho set a $348.00 target price on Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. cut their price target on Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. BMO Capital Markets cut their price target on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a report on Monday, June 23rd. Finally, Guggenheim lowered their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $346.92.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares in the company, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of the 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 2,954 shares of company stock worth $834,280. 0.02% of the stock is owned by corporate insiders.

Accenture 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.

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