Darwin Wealth Management LLC Takes $281,000 Position in Accenture plc (NYSE:ACN)

Darwin Wealth Management LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) during the 2nd quarter, Holdings Channel reports. The fund purchased 908 shares of the information technology services provider’s stock, valued at approximately $281,000.

Several other hedge funds have also recently bought and sold shares of ACN. United Bank boosted its holdings in shares of Accenture by 6.3% during the first quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock worth $1,001,000 after purchasing an additional 176 shares during the period. Weitz Investment Management Inc. lifted its position in Accenture by 1.3% in the 1st quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock worth $30,148,000 after buying an additional 1,168 shares in the last quarter. Fund Management at Engine No. 1 LLC acquired a new stake in shares of Accenture during the 1st quarter valued at $1,805,000. Guardian Wealth Management Inc. increased its stake in shares of Accenture by 0.6% in the first quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock worth $2,459,000 after acquiring an additional 41 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Accenture by 104.8% during the first quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock worth $148,871,000 after acquiring an additional 225,943 shares in the last quarter. 70.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other news, CAO Melissa A. Burgum sold 1,344 shares of Accenture stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $300.00, for a total transaction of $403,200.00. Following the sale, the chief accounting officer now owns 10,506 shares of the company’s stock, valued at approximately $3,151,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Melissa A. Burgum sold 1,344 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $300.00, for a total transaction of $403,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,506 shares of the company’s stock, valued at approximately $3,151,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $316.19, for a total transaction of $1,976,187.50. Following the completion of the sale, the insider now directly owns 167,854 shares in the company, valued at approximately $53,073,756.26. The disclosure for this sale can be found here. Insiders have sold 25,774 shares of company stock worth $8,138,451 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Accenture from $314.00 to $341.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Stifel Nicolaus increased their price target on shares of Accenture from $310.00 to $343.00 in a research note on Thursday, June 15th. Societe Generale lifted their price objective on shares of Accenture from $314.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, July 7th. Finally, Piper Sandler upgraded Accenture from an “underweight” rating to a “neutral” rating and raised their target price for the company from $250.00 to $316.00 in a report on Wednesday, June 14th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $335.25.

Accenture Trading Up 1.1 %

Shares of Accenture stock opened at $315.91 on Tuesday. Accenture plc has a 1 year low of $242.80 and a 1 year high of $330.43. The company’s fifty day simple moving average is $316.31 and its 200-day simple moving average is $296.37. The company has a market cap of $209.97 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.70 and a beta of 1.22.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.23. The company had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.49 billion. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $2.79 EPS. As a group, research analysts forecast that Accenture plc will post 11.6 earnings per share for the current fiscal year.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.