Bank of Montreal Can Acquires 94,319 Shares of Accenture plc (NYSE:ACN)

Bank of Montreal Can grew its stake in Accenture plc (NYSE:ACN) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,521,440 shares of the information technology services provider’s stock after acquiring an additional 94,319 shares during the quarter. Bank of Montreal Can’s holdings in Accenture were worth $468,086,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TrinityPoint Wealth LLC grew its position in Accenture by 3.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after acquiring an additional 125 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in shares of Accenture in the 4th quarter valued at $4,594,000. New Mexico Educational Retirement Board grew its holdings in shares of Accenture by 11.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after purchasing an additional 3,900 shares during the last quarter. Platform Technology Partners lifted its holdings in Accenture by 7.0% during the 4th quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock valued at $733,000 after purchasing an additional 131 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Accenture by 13.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after buying an additional 21,516 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Barclays cut their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Mizuho raised their target price on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Citigroup upped their price target on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price objective on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $356.41.

Accenture Stock Up 0.3 %

Shares of Accenture stock opened at $336.22 on Monday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The business has a fifty day simple moving average of $332.01 and a 200 day simple moving average of $321.64. The stock has a market cap of $210.71 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24.

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

Insider Buying and Selling at Accenture

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 $12,390,445.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. Corporate insiders own 0.07% of the company’s stock.

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.