Richardson Financial Services Inc. Sells 77 Shares of Accenture plc (NYSE:ACN)

Richardson Financial Services Inc. lessened its stake in Accenture plc (NYSE:ACN) by 35.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140 shares of the information technology services provider’s stock after selling 77 shares during the quarter. Richardson Financial Services Inc.’s holdings in Accenture were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. grew its position in shares of 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 worth $125,000 after buying an additional 27 shares during the last quarter. IronBridge Private Wealth LLC grew its holdings in Accenture by 2.3% in the fourth 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 last quarter. Kolinsky Wealth Management LLC lifted its holdings in shares of Accenture by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after purchasing an additional 30 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted 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 in the last quarter. Finally, West Paces Advisors Inc. grew its stake in Accenture by 10.2% during the 1st quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after buying an additional 32 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of several recent analyst reports. Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Bank of America lowered their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. TD Cowen lifted 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, BMO Capital Markets cut their target price 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. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $355.59.

Accenture Trading Down 0.3 %

Shares of NYSE ACN opened at $335.24 on Friday. The company has a 50-day moving average of $331.50 and a 200 day moving average of $322.77. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The stock has a market cap of $210.09 billion, a PE ratio of 30.70, a P/E/G 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 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. On average, sell-side analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In other news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture 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 transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Accenture 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 value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction 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 that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $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 in the last three months. 0.07% of the stock is owned by corporate insiders.

About Accenture

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.