Nippon Life Global Investors Americas Inc. Grows Stock Holdings in Accenture plc (NYSE:ACN)

Nippon Life Global Investors Americas Inc. increased its holdings in Accenture plc (NYSE:ACN) by 49.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,250 shares of the information technology services provider’s stock after purchasing an additional 2,410 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Accenture were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ACN. Accretive Wealth Partners LLC lifted its stake in Accenture by 2.3% in the fourth quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock worth $762,000 after acquiring an additional 48 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Accenture by 7.6% during the 4th quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after purchasing an additional 160 shares in the last quarter. 9258 Wealth Management LLC increased its position in shares of Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after buying an additional 46 shares during the period. Gryphon Financial Partners LLC raised its stake in Accenture by 79.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock worth $881,000 after buying an additional 1,123 shares in the last quarter. Finally, TrinityPoint Wealth LLC boosted its position in Accenture by 3.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Piper Sandler boosted their target price on shares of Accenture from $320.00 to $329.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets decreased 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 note on Friday, June 21st. TD Cowen boosted their price objective on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Friday, July 19th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.41.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Stock Up 0.3 %

Shares of Accenture stock opened at $336.22 on Monday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The company has a market cap of $210.71 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The company’s 50 day moving average is $332.01 and its 200 day moving average is $321.64.

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). The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. Sell-side analysts expect that Accenture plc will post 11.95 EPS for the current fiscal 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.