Waterloo Capital L.P. Has $409,000 Stock Position in Accenture plc (NYSE:ACN)

Waterloo Capital L.P. decreased its position in shares of Accenture plc (NYSE:ACN) by 61.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,348 shares of the information technology services provider’s stock after selling 2,108 shares during the quarter. Waterloo Capital L.P.’s holdings in Accenture were worth $409,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACN shares. Susquehanna decreased their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Piper Sandler Companies lowered their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. BMO Capital Markets reduced their price objective on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus dropped their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Finally, Mizuho lifted their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $355.59.

Accenture Trading Down 0.3 %

ACN stock opened at $335.24 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a 50-day moving average price of $331.50 and a 200-day moving average price of $322.77. The firm has a market cap of $210.09 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last posted 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). The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. Accenture’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 earnings per share. On average, analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Company 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.