Accenture plc (NYSE:ACN) is Waters Parkerson & CO. LLC’s 7th Largest Position

Waters Parkerson & CO. LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,408 shares of the information technology services provider’s stock after selling 1,051 shares during the quarter. Accenture accounts for approximately 3.4% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 7th biggest holding. Waters Parkerson & CO. LLC’s holdings in Accenture were worth $63,233,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new stake in Accenture in the 2nd quarter worth $26,000. Annapolis Financial Services LLC grew its position in shares of 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. Strategic Financial Concepts LLC purchased a new stake in shares of Accenture during the second quarter worth about $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Accenture during the 4th quarter worth about $29,000. Finally, Atwood & Palmer Inc. lifted its stake in Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Down 0.3 %

Shares of Accenture stock opened at $335.24 on Friday. The business’s fifty day simple moving average is $331.50 and its 200-day simple moving average is $322.77. The firm has a market cap of $210.09 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion for 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 company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. As a group, equities analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction on Friday, July 12th. The stock was 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 in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Citigroup upped their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Friday, July 19th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $356.00.

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.