Mn Services Vermogensbeheer B.V. Buys 3,500 Shares of Accenture PLC $ACN

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in Accenture PLC by 1.5% during Q2, owning 234,066 shares valued at approximately $69.96 million.
• Accenture reported a quarterly earnings per share of $3.49, surpassing analyst expectations and achieving a revenue of $17.73 billion for the quarter.
• Wall Street analysts generally maintain a Moderate Buy consensus rating for Accenture, with a consensus price target of $338.88 per share.

Mn Services Vermogensbeheer B.V. boosted its stake in Accenture PLC (NYSE:ACN - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234,066 shares of the information technology services provider's stock after acquiring an additional 3,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Accenture were worth $69,960,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ACN. Price T Rowe Associates Inc. MD raised its position in Accenture by 63.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider's stock worth $2,793,889,000 after acquiring an additional 3,490,569 shares during the period. Vanguard Group Inc. lifted its stake in shares of Accenture by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock valued at $19,912,594,000 after buying an additional 3,419,577 shares in the last quarter. GAMMA Investing LLC raised its holdings in Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock valued at $1,067,651,000 after acquiring an additional 3,410,248 shares during the period. Pacer Advisors Inc. raised its holdings in Accenture by 2,782.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,445,281 shares of the information technology services provider's stock valued at $450,985,000 after acquiring an additional 1,395,135 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Accenture during the fourth quarter valued at approximately $225,217,000. Institutional investors own 75.14% of the company's stock.

Insider Activity at Accenture

In related news, CEO Mauro Macchi sold 500 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. This represents a 17.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 203 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider 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 disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock worth $834,280 in the last three months. 0.02% of the stock is owned by insiders.

Accenture Trading Down 0.1%

Shares of ACN traded down $0.13 during mid-day trading on Monday, reaching $239.57. The company's stock had a trading volume of 6,069,376 shares, compared to its average volume of 4,401,517. The stock has a market cap of $150.05 billion, a PE ratio of 19.07, 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 PLC has a 52 week low of $234.18 and a 52 week high of $398.35. The company's fifty day moving average price is $256.92 and its two-hundred day moving average price is $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, topping 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.13 EPS. On average, analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on ACN shares. Hsbc Global Res raised shares of Accenture to a "moderate sell" rating in a research note on Monday, July 28th. TD Cowen reduced their price objective on shares of Accenture from $342.00 to $313.00 and set a "buy" rating for the company in a research note on Tuesday, September 9th. Guggenheim reduced their price objective on shares of Accenture from $335.00 to $305.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. JPMorgan Chase & Co. reduced their price objective on shares of Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, HSBC began coverage on shares of Accenture in a research note on Monday, July 28th. They issued a "reduce" rating and a $240.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $335.61.

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.