Platform Technology Partners Sells 95 Shares of Accenture plc (NYSE:ACN)

Platform Technology Partners lessened its holdings in Accenture plc (NYSE:ACN) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,873 shares of the information technology services provider’s stock after selling 95 shares during the period. Platform Technology Partners’ holdings in Accenture were worth $580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its position in Accenture by 1.3% in the first quarter. BlackRock Inc. now owns 48,035,644 shares of the information technology services provider’s stock valued at $13,729,067,000 after acquiring an additional 634,462 shares during the last quarter. State Street Corp boosted its stake in shares of Accenture by 2.7% during the first quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock valued at $7,560,765,000 after purchasing an additional 704,657 shares in the last quarter. Morgan Stanley boosted its stake in shares of Accenture by 14.9% during the fourth quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after purchasing an additional 2,163,582 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Accenture by 21.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,535,663 shares of the information technology services provider’s stock valued at $3,297,009,000 after purchasing an additional 2,060,646 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Accenture by 1.7% in the first quarter. Geode Capital Management LLC now owns 11,463,180 shares of the information technology services provider’s stock worth $3,269,319,000 after acquiring an additional 191,640 shares during the period. Institutional investors own 70.42% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN traded up $3.57 during trading on Monday, reaching $316.10. 450,983 shares of the stock traded hands, compared to its average volume of 2,302,382. Accenture plc has a 52-week low of $242.80 and a 52-week high of $330.43. The company has a 50-day moving average of $316.31 and a 200-day moving average of $296.37. The stock has a market capitalization of $210.10 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.23. The business had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Accenture had a return on equity of 30.47% and a net margin of 11.28%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.79 EPS. Analysts expect that Accenture plc will post 11.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. TD Cowen boosted their price target on Accenture from $300.00 to $312.00 and gave the company a “market perform” rating in a research note on Tuesday, September 12th. JPMorgan Chase & Co. boosted their price objective on Accenture from $314.00 to $341.00 and gave the company an “overweight” rating in a report on Tuesday, August 22nd. Piper Sandler upgraded Accenture from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $250.00 to $316.00 in a report on Wednesday, June 14th. Piper Jaffray Companies decreased their price objective on Accenture from $316.00 to $314.00 and set a “neutral” rating for the company in a report on Friday, June 23rd. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.25.

Insiders Place Their Bets

In other Accenture news, CAO Melissa A. Burgum sold 1,344 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $300.00, for a total value of $403,200.00. Following the transaction, the chief accounting officer now directly owns 10,506 shares in the company, valued at approximately $3,151,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Melissa A. Burgum sold 1,344 shares of Accenture stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $300.00, for a total transaction of $403,200.00. Following the sale, the chief accounting officer now directly owns 10,506 shares in the company, valued at $3,151,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $316.19, for a total value of $1,976,187.50. Following the completion of the sale, the insider now directly owns 167,854 shares in the company, valued at $53,073,756.26. The disclosure for this sale can be found here. Insiders have sold 25,774 shares of company stock worth $8,138,451 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.