Park National Corp OH Grows Holdings in Accenture PLC $ACN

Key Points

• Park National Corp OH increased its stake in Accenture PLC by 4.3%, acquiring an additional 5,388 shares during the second quarter, bringing its total holdings to 129,667 shares worth approximately $38.76 million.
• Multiple large institutional investors have made significant changes to their positions in Accenture, with Vanguard Group increasing its holdings by 5.7% and Price T Rowe Associates growing theirs by 63.9% in the first quarter.
• Accenture reported earnings of $3.49 per share for the latest quarter, exceeding analysts' expectations, while its revenue rose 7.7% year-over-year to $17.73 billion.

Park National Corp OH grew its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,667 shares of the information technology services provider's stock after purchasing an additional 5,388 shares during the period. Accenture accounts for about 1.3% of Park National Corp OH's investment portfolio, making the stock its 20th largest position. Park National Corp OH's holdings in Accenture were worth $38,756,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Harbor Investment Advisory LLC raised its holdings in Accenture by 3.5% in the second quarter. Harbor Investment Advisory LLC now owns 4,510 shares of the information technology services provider's stock valued at $1,348,000 after buying an additional 152 shares during the period. Howe & Rusling Inc. boosted its holdings in Accenture by 27.5% in the first quarter. Howe & Rusling Inc. now owns 12,916 shares of the information technology services provider's stock worth $4,030,000 after purchasing an additional 2,786 shares during the period. Maple Capital Management Inc. boosted its holdings in Accenture by 0.4% in the first quarter. Maple Capital Management Inc. now owns 110,723 shares of the information technology services provider's stock worth $34,550,000 after purchasing an additional 438 shares during the period. eCIO Inc. acquired a new position in shares of Accenture during the first quarter valued at $197,000. Finally, Cim LLC raised its holdings in Accenture by 6.3% during the 1st quarter. Cim LLC now owns 6,846 shares of the information technology services provider's stock worth $2,136,000 after buying an additional 404 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Accenture from $355.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday. Robert W. Baird reduced their price objective on Accenture from $372.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday. Mizuho set a $348.00 price objective on Accenture and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Evercore ISI initiated coverage on Accenture in a research note on Thursday, July 17th. They issued an "outperform" rating and a $330.00 target price for the company. Finally, Susquehanna dropped their price objective on Accenture from $330.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $335.13.

Accenture Stock Down 0.6%

Shares of NYSE:ACN traded down $1.45 during trading on Thursday, hitting $239.79. 2,596,202 shares of the company were exchanged, compared to its average volume of 3,609,903. 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 fifty-two week low of $235.83 and a fifty-two week high of $398.35. The firm has a fifty day moving average price of $259.50 and a two-hundred day moving average price of $291.24. The stock has a market cap of $150.19 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 2.04 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate 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 return on equity of 26.55% and a net margin of 11.61%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.13 EPS. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. As a group, research analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of Accenture stock in a transaction that occurred 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 sale, the chief executive officer owned 2,283 shares of the company's stock, valued at approximately $644,582.22. The trade was a 17.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,954 shares of company stock worth $834,280. 0.02% of the stock is currently owned by company insiders.

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.