Accenture PLC $ACN Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Accenture PLC by 12.8%, owning a total of 23,071 shares valued at approximately $6.9 million as of the most recent quarter.
• Insider Angela Beatty sold 203 shares, while CEO Mauro Macchi sold 500 shares on July 11th, representing significant decreases in their respective holdings.
• Accenture's stock recently had its price target adjusted by various analysts, with TD Cowen lowering it from $342.00 to $313.00, while other institutions maintain a "buy" or "outperform" rating.

Farther Finance Advisors LLC boosted its position in Accenture PLC (NYSE:ACN - Free Report) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,071 shares of the information technology services provider's stock after purchasing an additional 2,620 shares during the period. Farther Finance Advisors LLC's holdings in Accenture were worth $6,896,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Accenture during the fourth quarter worth $31,000. Capital A Wealth Management LLC purchased a new position in Accenture during the fourth quarter worth $34,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Accenture during the first quarter worth $31,000. Inlight Wealth Management LLC purchased a new position in Accenture during the first quarter worth $32,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Accenture in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Argus set a $370.00 target price on Accenture in a research note on Tuesday, June 24th. Rothschild Redb lowered Accenture from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. HSBC assumed coverage on Accenture in a research note on Monday, July 28th. They issued a "reduce" rating and a $240.00 target price for the company. Robert W. Baird dropped their target price on Accenture from $372.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, September 16th. Finally, 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, September 18th. One research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $329.52.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the business's stock in a transaction dated 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 directly owned 8,109 shares of the company's stock, valued at $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 203 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 $57,315.02. Following the transaction, the insider directly owned 5,249 shares of the company's stock, valued at $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. 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 insiders.

Accenture Stock Down 2.1%

Accenture stock traded down $5.06 during midday trading on Tuesday, hitting $234.93. The stock had a trading volume of 3,494,968 shares, compared to its average volume of 3,683,713. 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 stock has a market cap of $147.14 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.07 and a beta of 1.30. Accenture PLC has a 12 month low of $234.10 and a 12 month high of $398.35. The business has a fifty day moving average price of $256.92 and a 200 day moving average price of $288.31.

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 for the quarter, beating the consensus estimate 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 return on equity of 26.55% and a net margin of 11.61%.Accenture's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.13 earnings per share. Research analysts predict 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.