Dynamic Advisor Solutions LLC Decreases Stock Holdings in Accenture PLC $ACN

Key Points

• Dynamic Advisor Solutions LLC reduced its holdings in Accenture PLC by 62.7%, selling 13,705 shares and leaving them with 8,136 shares valued at $2.43 million at the end of the most recent quarter.
• Several institutional investors have increased their stakes in Accenture, with Price T Rowe Associates Inc. MD significantly lifting its stake by 63.9% in the first quarter.
• Insider trading activity was noted as CEO Julie Spellman Sweet sold 2,251 shares, a 21.73% decrease in ownership, while CEO Mauro Macchi also sold 500 shares, reducing his ownership by 17.97%.

Dynamic Advisor Solutions LLC lessened its stake in Accenture PLC (NYSE:ACN - Free Report) by 62.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,136 shares of the information technology services provider's stock after selling 13,705 shares during the period. Dynamic Advisor Solutions LLC's holdings in Accenture were worth $2,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Channel Wealth LLC boosted its stake in shares of Accenture by 53.2% in the 2nd quarter. Channel Wealth LLC now owns 14,205 shares of the information technology services provider's stock valued at $4,246,000 after purchasing an additional 4,935 shares in the last quarter. DLK Investment Management LLC increased its stake in shares of Accenture by 3.9% in the 2nd quarter. DLK Investment Management LLC now owns 10,633 shares of the information technology services provider's stock worth $3,178,000 after acquiring an additional 399 shares in the last quarter. Pines Wealth Management LLC increased its stake in shares of Accenture by 6.1% in the 2nd quarter. Pines Wealth Management LLC now owns 1,136 shares of the information technology services provider's stock worth $346,000 after acquiring an additional 65 shares in the last quarter. Sunpointe LLC grew its position in Accenture by 99.6% during the 2nd quarter. Sunpointe LLC now owns 1,521 shares of the information technology services provider's stock valued at $454,000 after purchasing an additional 759 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its position in Accenture by 3.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 20,676 shares of the information technology services provider's stock valued at $6,180,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACN shares. Rothschild Redb cut shares of Accenture from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Rothschild & Co Redburn downgraded shares of Accenture from a "buy" rating to a "neutral" rating and set a $250.00 price objective on the stock. in a report on Wednesday, September 3rd. Argus set a $370.00 price objective on shares of Accenture in a report on Tuesday, June 24th. Susquehanna dropped their price objective on shares of Accenture from $330.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, HSBC began coverage on shares of Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $335.39.

Accenture Trading Up 0.5%

NYSE ACN traded up $1.10 on Friday, hitting $240.65. 11,449,719 shares of the stock were exchanged, compared to its average volume of 3,980,534. The firm has a market capitalization of $150.73 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 1.29. Accenture PLC has a 52-week low of $234.18 and a 52-week high of $398.35. 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 stock has a fifty day moving average price of $257.73 and a two-hundred day moving average price of $289.38.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results 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. The firm had revenue of $17.73 billion during 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 business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.13 earnings per share. Research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Angela Beatty sold 203 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares of the company's stock, valued at $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mauro Macchi sold 500 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares of the company's stock, valued at $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 sold a total of 2,954 shares of company stock valued at $834,280 over the last three months. 0.02% of the stock is owned by company insiders.

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.