Accenture PLC $ACN Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co has reduced its holdings in Accenture PLC by 10.1%, now owning 11,201 shares worth approximately $3.35 million after selling 1,260 shares during the second quarter.
• Accenture reported a Q2 EPS of $3.49, exceeding estimates, with revenues of $17.73 billion, a 7.7% increase year-over-year.
• Analysts have mixed sentiments on Accenture's stock, with a majority rating it as a "Moderate Buy" and an average price target of $335.39.

Diversified Trust Co lowered its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,201 shares of the information technology services provider's stock after selling 1,260 shares during the period. Diversified Trust Co's holdings in Accenture were worth $3,348,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in Accenture in the fourth quarter worth about $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Accenture in the first quarter valued at approximately $31,000. Inlight Wealth Management LLC purchased a new position in Accenture during the first quarter worth about $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the 4th quarter valued at approximately $34,000. Finally, WPG Advisers LLC bought a new stake in Accenture during the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction dated Friday, July 11th. The stock was 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 approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. 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 business'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 sale, the chief executive officer 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 disclosure for this sale can be found here. Insiders have sold a total of 2,954 shares of company stock worth $834,280 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ACN shares. Susquehanna reduced their target price on Accenture from $330.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday. Mizuho set a $348.00 target price on shares of Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. HSBC assumed coverage on shares of Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 target price for the company. Rothschild & Co Redburn lowered shares of Accenture from a "buy" rating to a "neutral" rating and set a $250.00 target price for the company. in a report on Wednesday, September 3rd. Finally, Argus set a $370.00 target price on shares of Accenture in a report on Tuesday, June 24th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.39.

Accenture Stock Performance

Shares of NYSE:ACN traded up $1.10 during midday trading on Friday, reaching $240.65. The company's stock had a trading volume of 11,449,719 shares, compared to its average volume of 4,401,517. The firm has a market capitalization of $150.73 billion, a PE ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 1.30. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $257.73 and a 200 day moving average of $289.02. Accenture PLC has a twelve month low of $234.18 and a twelve month high of $398.35.

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. The company had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.13 earnings per share. On average, equities analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

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.