Compagnie Lombard Odier SCmA Sells 9,873 Shares of Accenture PLC $ACN

Key Points

• Compagnie Lombard Odier SCmA has sold 9,873 shares of Accenture PLC, reducing its holdings by 70.5% to 4,137 shares, valued at approximately $1.24 million.
• Various institutional investors such as Viawealth LLC and Aprio Wealth Management LLC have increased their stakes in Accenture, reflecting a total institutional ownership of 75.14%.
• Accenture’s recent earnings report showed $3.49 EPS, exceeding expectations, with revenue of $17.73 billion, up 7.7% year-over-year.

Compagnie Lombard Odier SCmA trimmed its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 70.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,137 shares of the information technology services provider's stock after selling 9,873 shares during the period. Compagnie Lombard Odier SCmA's holdings in Accenture were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Viawealth LLC increased its stake in Accenture by 2.6% in the first quarter. Viawealth LLC now owns 1,307 shares of the information technology services provider's stock valued at $408,000 after purchasing an additional 33 shares in the last quarter. Aprio Wealth Management LLC increased its stake in Accenture by 2.1% in the first quarter. Aprio Wealth Management LLC now owns 1,640 shares of the information technology services provider's stock valued at $512,000 after purchasing an additional 33 shares in the last quarter. First National Advisers LLC increased its stake in Accenture by 0.4% in the first quarter. First National Advisers LLC now owns 9,420 shares of the information technology services provider's stock valued at $2,939,000 after purchasing an additional 34 shares in the last quarter. TCTC Holdings LLC increased its stake in Accenture by 14.5% in the first quarter. TCTC Holdings LLC now owns 269 shares of the information technology services provider's stock valued at $84,000 after purchasing an additional 34 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA increased its stake in Accenture by 0.3% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 11,777 shares of the information technology services provider's stock valued at $3,675,000 after purchasing an additional 35 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ACN shares. Argus set a $370.00 target price on shares of Accenture in a research note on Tuesday, June 24th. Rothschild & Co Redburn upped their price target on shares of Accenture from $250.00 to $255.00 in a report on Friday. Barclays reduced their price target on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a report on Monday, June 23rd. BMO Capital Markets reduced their price target on shares of 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 reduced their price target on shares of Accenture from $335.00 to $305.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $335.61.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the transaction, the chief executive officer directly owned 8,109 shares of the company's stock, valued at $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock valued at $834,280 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

NYSE ACN opened at $239.57 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm's fifty day moving average price is $256.92 and its two-hundred day moving average price is $288.31. Accenture PLC has a 1 year low of $234.18 and a 1 year high of $398.35. The firm has a market capitalization of $150.05 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30.

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

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.

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