Accenture plc (NYSE:ACN) Short Interest Up 7.8% in August

Accenture plc (NYSE:ACNGet Rating) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 4,420,000 shares, an increase of 7.8% from the August 15th total of 4,100,000 shares. Based on an average trading volume of 2,030,000 shares, the short-interest ratio is currently 2.2 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. Citigroup cut their target price on Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Morgan Stanley cut their price objective on Accenture from $385.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, September 7th. Cowen cut their price objective on Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. BMO Capital Markets cut their price objective on Accenture from $337.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Piper Sandler cut their price objective on Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus price target of $354.47.

Accenture Stock Down 1.8 %

Shares of Accenture stock opened at $265.42 on Thursday. Accenture has a 12 month low of $261.77 and a 12 month high of $417.37. The business has a fifty day simple moving average of $295.09 and a 200 day simple moving average of $300.01. The stock has a market cap of $167.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.32 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last announced its quarterly earnings data on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company had revenue of $16.16 billion for the quarter, compared to analyst estimates of $16.05 billion. During the same period last year, the firm earned $2.40 earnings per share. Analysts expect that Accenture will post 10.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 555 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now owns 25,601 shares in the company, valued at approximately $7,680,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 555 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now owns 25,601 shares in the company, valued at approximately $7,680,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ellyn Shook sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $225,000.00. Following the transaction, the insider now owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,389 shares of company stock worth $3,132,777. 0.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accenture

Institutional investors have recently made changes to their positions in the stock. Citizens National Bank Trust Department acquired a new position in Accenture in the fourth quarter valued at about $31,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Accenture in the first quarter valued at about $26,000. Ulland Investment Advisors LLC acquired a new position in Accenture in the first quarter valued at about $29,000. Delos Wealth Advisors LLC acquired a new position in Accenture in the fourth quarter valued at about $39,000. Finally, Schubert & Co grew its stake in Accenture by 71.6% in the second quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 48 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations 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 liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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