Transcend Capital Advisors LLC Boosts Stock Position in Accenture plc (NYSE:ACN)

Transcend Capital Advisors LLC grew its stake in Accenture plc (NYSE:ACN) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,960 shares of the information technology services provider’s stock after purchasing an additional 1,015 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Accenture were worth $2,456,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ACN. Strategic Investment Solutions Inc. IL acquired a new position in Accenture in the first quarter valued at approximately $28,000. Barrett & Company Inc. acquired a new position in Accenture in the first quarter valued at approximately $29,000. Sageworth Trust Co grew its position in shares of Accenture by 872.7% during the first quarter. Sageworth Trust Co now owns 107 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Guardian Wealth Advisors LLC acquired a new position in Accenture during the 1st quarter valued at about $32,000. Finally, First Command Financial Services Inc. increased its stake in shares of Accenture by 131.6% in the first quarter. First Command Financial Services Inc. now owns 132 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 70.42% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock traded up $0.80 during midday trading on Tuesday, hitting $316.68. The company had a trading volume of 957,463 shares, compared to its average volume of 2,299,752. The business’s 50 day simple moving average is $316.31 and its two-hundred day simple moving average is $296.37. The stock has a market cap of $210.48 billion, a PE ratio of 28.16, a P/E/G ratio of 2.67 and a beta of 1.22. Accenture plc has a 1-year low of $242.80 and a 1-year high of $330.43.

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

Wall Street Analyst Weigh In

ACN has been the subject of a number of research analyst reports. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Stifel Nicolaus raised their target price on Accenture from $310.00 to $343.00 in a research note on Thursday, June 15th. Deutsche Bank Aktiengesellschaft raised their target price on Accenture from $292.00 to $377.00 in a research note on Friday, June 9th. Morgan Stanley raised their target price on Accenture from $340.00 to $356.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Finally, Citigroup restated a “buy” rating and issued a $358.00 price target on shares of Accenture in a research report on Monday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $335.25.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,344 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 10,506 shares in the company, valued at approximately $3,151,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Accenture news, CAO Melissa A. Burgum sold 1,344 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were 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 $3,151,800. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Leonardo Framil sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $311.52, for a total transaction of $934,560.00. Following the completion of the transaction, the chief executive officer now owns 16,898 shares in the company, valued at $5,264,064.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,774 shares of company stock worth $8,138,451. 0.08% of the stock is currently owned by corporate insiders.

Accenture 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.