Sienna Gestion Purchases 293 Shares of Accenture plc (NYSE:ACN)

Sienna Gestion raised its position in Accenture plc (NYSE:ACN) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 54,528 shares of the information technology services provider’s stock after buying an additional 293 shares during the period. Accenture makes up 1.5% of Sienna Gestion’s portfolio, making the stock its 8th biggest holding. Sienna Gestion’s holdings in Accenture were worth $16,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Annapolis Financial Services LLC increased its holdings in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $29,000. Atwood & Palmer Inc. lifted its stake in shares of Accenture by 214.8% in 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 during the period. Unique Wealth Strategies LLC bought a new stake in Accenture in the second quarter valued at approximately $26,000. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in Accenture during the 4th quarter valued at approximately $35,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of ACN opened at $336.17 on Thursday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a 50 day moving average price of $330.75 and a two-hundred day moving average price of $322.68. The firm has a market capitalization of $210.68 billion, a P/E ratio of 30.78, a P/E/G ratio of 3.82 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

ACN has been the subject of several recent analyst reports. Piper Sandler Companies decreased their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Citigroup increased their price target on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective on the stock. BMO Capital Markets lowered their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Finally, TD Cowen increased their price target on Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.59.

Insider Activity

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 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 legal filing with the SEC, which can be accessed 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 value of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 over the last quarter. 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.