Cooper Investors PTY Ltd. lowered its stake in Accenture PLC (NYSE:ACN - Free Report) by 27.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,870 shares of the information technology services provider's stock after selling 11,884 shares during the quarter. Accenture accounts for approximately 1.7% of Cooper Investors PTY Ltd.'s portfolio, making the stock its 24th largest position. Cooper Investors PTY Ltd.'s holdings in Accenture were worth $9,227,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Accenture in the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new stake in Accenture in the 4th quarter valued at $34,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture in the 1st quarter valued at $31,000. Inlight Wealth Management LLC acquired a new stake in Accenture in the 1st quarter valued at $32,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Accenture in the 4th quarter valued at $47,000. Institutional investors own 75.14% of the company's stock.
Analyst Upgrades and Downgrades
ACN has been the subject of several research reports. Hsbc Global Res raised shares of Accenture to a "moderate sell" rating in a research report on Monday, July 28th. Susquehanna reduced their price target on shares of Accenture from $330.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, September 18th. 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 research report on Monday, June 23rd. Wolfe Research cut their price objective on shares of Accenture from $290.00 to $285.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Accenture from $290.00 to $260.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $329.52.
Check Out Our Latest Research Report on ACN
Insider Buying and Selling
In related news, CEO Mauro Macchi sold 500 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at approximately $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 203 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the transaction, the insider owned 5,249 shares in the company, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,954 shares of company stock worth $834,280. Insiders own 0.02% of the company's stock.
Accenture Stock Performance
Shares of NYSE:ACN traded down $3.63 during midday trading on Tuesday, reaching $236.37. The company had a trading volume of 2,303,454 shares, compared to its average volume of 3,676,328. Accenture PLC has a 52-week low of $234.18 and a 52-week high of $398.35. The company's 50 day moving average price is $256.92 and its 200 day moving average price is $288.31. The stock has a market cap of $148.04 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.07 and a beta of 1.30. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.
Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The business had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. During the same period in the previous year, the business posted $3.13 EPS. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.
Accenture Profile
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Free Report)
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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