Border to Coast Pensions Partnership Ltd Increases Position in Accenture PLC $ACN

Key Points

• Border to Coast Pensions Partnership Ltd raised its stake in Accenture PLC by 27.7% in Q2, owning 201,420 shares valued at approximately $60.20 million, which constitutes 1.1% of its investment portfolio.
• Insider sales included CEO Julie Spellman Sweet and insider Angela Beatty selling shares recently, decreasing their holdings by 21.73% and 3.72% respectively.
• Accenture's most recent earnings report showed a 7.7% revenue increase year-over-year, with earnings per share at $3.49, surpassing analyst expectations.

Border to Coast Pensions Partnership Ltd boosted its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 27.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,420 shares of the information technology services provider's stock after acquiring an additional 43,701 shares during the quarter. Accenture accounts for approximately 1.1% of Border to Coast Pensions Partnership Ltd's investment portfolio, making the stock its 27th biggest holding. Border to Coast Pensions Partnership Ltd's holdings in Accenture were worth $60,202,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Avanza Fonder AB grew its holdings in Accenture by 3.5% during the second quarter. Avanza Fonder AB now owns 43,256 shares of the information technology services provider's stock worth $12,929,000 after purchasing an additional 1,458 shares during the period. Matrix Trust Co raised its stake in Accenture by 5.6% in the second quarter. Matrix Trust Co now owns 7,741 shares of the information technology services provider's stock valued at $2,314,000 after buying an additional 411 shares during the period. Petredis Investment Advisors LLC lifted its position in shares of Accenture by 1.7% in the second quarter. Petredis Investment Advisors LLC now owns 7,996 shares of the information technology services provider's stock valued at $2,390,000 after buying an additional 135 shares during the last quarter. Orrstown Financial Services Inc. raised its stake in Accenture by 19.8% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,169 shares of the information technology services provider's stock valued at $648,000 after acquiring an additional 359 shares during the period. Finally, Abacus FCF Advisors LLC acquired a new stake in Accenture during the 2nd quarter valued at $3,970,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of the firm'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 directly owned 2,283 shares in the company, valued at $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. In the last three months, insiders have sold 2,954 shares of company stock valued at $834,280. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen lowered their price target 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. Deutsche Bank Aktiengesellschaft dropped their price target on Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a report on Thursday, September 11th. Argus set a $370.00 price objective on Accenture in a report on Tuesday, June 24th. Evercore ISI started coverage on Accenture in a report on Thursday, July 17th. They set an "outperform" rating and a $330.00 target price for the company. Finally, Mizuho set a $348.00 price objective on shares of Accenture and gave the company an "outperform" rating in a report on Tuesday, June 24th. 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 issued a Sell rating to the company. According to data from MarketBeat, Accenture has a consensus rating of "Moderate Buy" and an average price target of $329.52.

Accenture Price Performance

NYSE ACN traded down $5.37 during trading hours on Tuesday, hitting $234.62. The company had a trading volume of 3,744,324 shares, compared to its average volume of 3,684,391. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $146.95 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.07 and a beta of 1.30. Accenture PLC has a 52 week low of $234.10 and a 52 week high of $398.35. The firm has a 50 day simple moving average of $256.92 and a 200 day simple moving average of $288.31.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during 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%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.13 earnings per share. Equities research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

About Accenture

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.