AllGen Financial Advisors Inc. Purchases 1,629 Shares of Accenture plc (NYSE:ACN)

AllGen Financial Advisors Inc. increased its holdings in Accenture plc (NYSE:ACN) by 20.6% during the 2nd quarter, Holdings Channel reports. The firm owned 9,520 shares of the information technology services provider’s stock after buying an additional 1,629 shares during the period. Accenture makes up approximately 1.1% of AllGen Financial Advisors Inc.’s investment portfolio, making the stock its 25th biggest position. AllGen Financial Advisors Inc.’s holdings in Accenture were worth $2,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Unique Wealth Strategies LLC bought a new stake in shares of Accenture during the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC boosted its position in Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Accenture during the 2nd quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. purchased a new position in Accenture during the fourth quarter valued at $29,000. Finally, Atwood & Palmer Inc. boosted its holdings in shares of Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN stock opened at $336.17 on Thursday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company has a market cap of $210.68 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The stock’s fifty day moving average price is $330.75 and its 200-day moving average price is $322.68.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ACN shares. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Stifel Nicolaus reduced their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their target price on Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Guggenheim restated a “buy” rating and set a $395.00 price target on shares of Accenture in a report on Friday, May 24th. Finally, Wedbush cut their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus price target of $355.59.

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.