Pacer Advisors Inc. Grows Stock Holdings in Accenture plc (NYSE:ACN)

Pacer Advisors Inc. lifted its position in Accenture plc (NYSE:ACN) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,835 shares of the information technology services provider’s stock after buying an additional 2,695 shares during the quarter. Pacer Advisors Inc.’s holdings in Accenture were worth $15,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TrinityPoint Wealth LLC boosted its holdings 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 during the period. Focus Financial Network Inc. ADV purchased a new position in Accenture during the 4th quarter valued at about $4,594,000. New Mexico Educational Retirement Board boosted its holdings in Accenture by 11.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after acquiring an additional 3,900 shares during the period. Platform Technology Partners boosted its holdings in Accenture by 7.0% during the 4th quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock valued at $733,000 after acquiring an additional 131 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Accenture by 13.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after acquiring an additional 21,516 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 0.3 %

ACN opened at $336.22 on Monday. The firm 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 business’s 50 day moving average is $332.01 and its two-hundred day moving average is $321.64. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last released its 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 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%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 EPS. Equities analysts expect that Accenture plc will post 11.95 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture 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 sale, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,421 shares of company stock valued at $6,912,635. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ACN shares. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research note on Friday. Morgan Stanley cut 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 research note on Wednesday, June 26th. BMO Capital Markets decreased their price objective on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, July 19th. Finally, TD Cowen lifted their price objective on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus price target of $356.41.

Accenture Company 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.