Accenture plc (NYSE: ACN) has recently seen some significant activity in its share transactions. On September 14, 2023, it was reported that EP Wealth Advisors LLC acquired a new position in the company during the first quarter of the year. According to the filing with the Securities & Exchange Commission, the institutional investor purchased 25,067 shares of Accenture’s stock. The total value of this acquisition was estimated at approximately $7,164,000.
It is not uncommon for institutional investors to make such moves, as they carefully analyze market trends and identify potential opportunities for growth. By purchasing shares in Accenture, EP Wealth Advisors LLC has shown confidence in the information technology services provider.
In addition to this purchase, there have been other notable transactions involving Accenture’s stock. Joel Unruch, the General Counsel of the company, sold 7,000 shares on July 27th. These shares were sold at an average price of $320.60 each, resulting in a total value of $2,244,200.00. Following this transaction, Mr. Unruch now directly holds 36,034 shares in Accenture which are valued at $11,552,500.40.
Similarly, CEO Leonardo Framil also made a sale of 3,000 shares on August 8th. The average price per share was $311.52 and the total value amounted to $934,560.00. As a result of this transaction, Mr. Framil now holds 16,898 shares of Accenture’s stock valued at $5,264,064.96.
These transactions were officially disclosed through documents filed with the SEC and can be accessed on their website by interested parties.
It is worth noting that over the past three months leading up to September 14th, insiders have collectively sold 25,774 shares of Accenture’s stock worth approximately $8,138,451. While these sales may indicate profit-taking or diversification strategies by company insiders, it is important to consider them in the broader context of Accenture’s overall market performance.
Investors should always conduct thorough research and analysis before making any investment decisions. While transactions by institutional investors and company insiders can provide valuable insights, they should not be the sole basis for investment choices. It is essential to consider various factors such as market conditions, industry trends, and the company’s financial performance when making investment determinations.
As of September 14th, company insiders hold approximately 0.08% of Accenture’s stock. This information provides a glimpse into the ownership structure and potential alignment of interests between insiders and other shareholders.
Accenture is a leading global professional services company that offers a wide range of services spanning technology consulting, digital transformation, strategy, operations management, and more. With its strong presence in the information technology services sector, the company has positioned itself as a key player in helping businesses adapt to an evolving digital landscape.
As with any investment, potential investors are advised to exercise caution and evaluate their own risk tolerance before considering buying or selling shares of Accenture or any other publicly traded companies. Seeking advice from professional financial advisors or conducting independent research can further enhance decision-making in the complex world of investing.
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Accenture Stock Ownership and Ratings: A Promising Outlook
In recent months, there have been several notable changes in the ownership of Accenture stock by hedge funds and institutional investors. Strategic Investment Solutions Inc. IL acquired a new position in the company during the first quarter with a value of approximately $28,000. Similarly, Barrett & Company Inc. also purchased a new position worth approximately $29,000 during the same period.
Perhaps one of the most significant increases in holdings was made by Sageworth Trust Co, who boosted their position in Accenture by an astonishing 872.7% during the first quarter. With an additional 96 shares, Sageworth Trust Co now owns a total of 107 shares valued at $31,000. Additionally, Guardian Wealth Advisors LLC entered into a new position within the first quarter for about $32,000 while Elequin Securities LLC did so during the fourth quarter for approximately $34,000. Overall hedge funds and institutional investors now hold a staggering 70.42% stake in Accenture.
Several brokerage firms have commented on Accenture’s performance as well. BMO Capital Markets recently downgraded their rating from “outperform” to “market perform” in a report released on August 3rd. On September 8th, Robert W. Baird gave Accenture a “neutral” rating and increased their target price from $316 to $332 per share.
Morgan Stanley also raised their target price on September 14th from $340 to $356 per share while giving the company an “overweight” rating. JPMorgan Chase & Co followed suit on August 22nd by increasing their target price from $314 to $341 per share with an “overweight” rating as well.
Citigroup remarked on June 14th that they had raised their target price significantly from $306 to $358 per share. In total, seven investment analysts have given Accenture a hold rating while eleven have issued buy ratings. Based on data from Bloomberg, the consensus rating for Accenture is currently “Moderate Buy” and the average target price per share is $335.25.
On Thursday, ACN opened at $313.91. The company’s 52-week low stands at $242.80 with a high of $330.43. Additionally, its fifty-day simple moving average is calculated at $315.93, while its 200-day simple moving average is $295.33.
As of now, Accenture has a market capitalization of an impressive $208.64 billion and a relatively high P/E ratio of 27.98, indicating the market’s confidence in the stock’s growth potential. The P/E/G ratio is also noteworthy at 2.79, highlighting the company’s strong earning prospects relative to its valuation.
Accenture released its most recent quarterly earnings results on June 22nd, reporting an earnings per share (EPS) of $3.19 for the quarter. This surpassed analysts’ consensus estimate of $2.96 by $0.23 per share, showcasing the company’s positive performance during that period.
The firm posted a return on equity of 30.47% and a net margin of 11.28%. Its quarterly revenue amounted to $16.56 billion, slightly exceeding analyst estimates of $16.49 billion in revenue for the same period last year by a modest 2.5%. Analysts predict that Accenture will achieve earnings per share (EPS) of approximately 11.59 for the current fiscal year.
In conclusion, recent changes in ownership among hedge funds and institutional investors highlight their growing interest in Accenture stock, which bodes well for its future performance in the market. With generally positive ratings from brokerage firms and solid financial results for the previous quarter, it appears that Accenture continues to gain momentum as a leading player in the information technology services industry. Investors will undoubtedly be keeping a close eye on the company’s progress in the coming months.
