Intech Investment Management LLC Purchases 5,045 Shares of Accenture plc (NYSE:ACN)

Intech Investment Management LLC lifted its position in Accenture plc (NYSE:ACN) by 13.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 41,701 shares of the information technology services provider’s stock after acquiring an additional 5,045 shares during the period. Intech Investment Management LLC’s holdings in Accenture were worth $12,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACN. Pin Oak Investment Advisors Inc. boosted its position in Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock valued at $125,000 after buying an additional 27 shares during the period. IronBridge Private Wealth LLC lifted its position in shares of Accenture by 2.3% in the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock worth $433,000 after purchasing an additional 28 shares during the period. Kolinsky Wealth Management LLC lifted its position in shares of Accenture by 1.0% in the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after purchasing an additional 30 shares during the period. Walled Lake Planning & Wealth Management LLC lifted its position in shares of Accenture by 0.3% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after purchasing an additional 32 shares during the period. Finally, West Paces Advisors Inc. lifted its position in shares of Accenture by 10.2% in the 1st quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the 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 sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock valued at $6,912,635 in the last ninety days. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. 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. BMO Capital Markets lowered their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. Piper Sandler Companies reiterated a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research note on Friday. Barclays reduced their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $356.41.

Accenture Price Performance

ACN stock opened at $336.22 on Friday. The firm’s fifty day simple moving average is $332.01 and its 200-day simple moving average is $322.44. The company has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

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

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.