Accenture PLC $ACN Shares Sold by YHB Investment Advisors Inc.

Key Points

• YHB Investment Advisors Inc. reduced its position in Accenture PLC by 75.3%, ending the quarter with 2,356 shares valued at approximately $704,000.
• Analysts have varying opinions on Accenture, with target prices ranging from $271.00 to $355.00, and a consensus rating of "Moderate Buy."
• Insider trading activity includes the sale of shares by CEO Mauro Macchi and insider Angela Beatty, indicating a decrease in their holdings in the company.

YHB Investment Advisors Inc. decreased its stake in Accenture PLC (NYSE:ACN - Free Report) by 75.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,356 shares of the information technology services provider's stock after selling 7,191 shares during the period. YHB Investment Advisors Inc.'s holdings in Accenture were worth $704,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Redwood Investments LLC boosted its position in Accenture by 6.2% during the first quarter. Redwood Investments LLC now owns 22,087 shares of the information technology services provider's stock worth $6,892,000 after purchasing an additional 1,287 shares in the last quarter. Lipe & Dalton boosted its position in shares of Accenture by 2,087.4% in the first quarter. Lipe & Dalton now owns 5,031 shares of the information technology services provider's stock worth $1,570,000 after buying an additional 4,801 shares during the period. Intech Investment Management LLC increased its stake in Accenture by 40.5% during the first quarter. Intech Investment Management LLC now owns 98,633 shares of the information technology services provider's stock valued at $30,777,000 after acquiring an additional 28,446 shares during the period. Park National Corp OH raised its position in Accenture by 4.3% in the 2nd quarter. Park National Corp OH now owns 129,667 shares of the information technology services provider's stock worth $38,756,000 after purchasing an additional 5,388 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Accenture by 1.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 234,066 shares of the information technology services provider's stock worth $69,960,000 after purchasing an additional 3,500 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other Accenture news, CEO Mauro Macchi sold 500 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 2,283 shares of the company's stock, valued at $644,582.22. This represents a 17.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela Beatty sold 203 shares of the firm'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 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 have sold 2,954 shares of company stock valued at $834,280 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ACN shares. TD Cowen cut their price target on shares of Accenture from $342.00 to $313.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. JPMorgan Chase & Co. decreased their price target on Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Guggenheim decreased their price objective on Accenture from $335.00 to $305.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Morgan Stanley lowered their price objective on Accenture from $325.00 to $271.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 9th. Finally, BMO Capital Markets lowered their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $329.52.

Accenture Stock Down 0.8%

Accenture stock traded down $1.80 during trading hours on Tuesday, hitting $238.19. The company had a trading volume of 1,405,622 shares, compared to its average volume of 3,671,070. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm's fifty day moving average is $256.92 and its 200-day moving average is $288.31. The firm has a market capitalization of $149.18 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. Accenture PLC has a fifty-two week low of $234.18 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced 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. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter in the previous year, the business posted $3.13 earnings per share. Accenture's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Accenture PLC will post 12.73 earnings per share for the current 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.