3Chopt Investment Partners LLC Invests $622,000 in Accenture plc (NYSE:ACN)

3Chopt Investment Partners LLC acquired a new position in Accenture plc (NYSE:ACN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,176 shares of the information technology services provider’s stock, valued at approximately $622,000.

Other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Accenture during the first quarter valued at about $28,000. Barrett & Company Inc. bought a new position in Accenture during the first quarter valued at about $29,000. Sageworth Trust Co increased its stake in Accenture by 872.7% during the first quarter. Sageworth Trust Co now owns 107 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Guardian Wealth Advisors LLC bought a new position in Accenture during the first quarter valued at about $32,000. Finally, Elequin Securities LLC bought a new position in Accenture during the fourth quarter valued at about $34,000. 70.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACN. BMO Capital Markets lowered Accenture from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 3rd. Piper Sandler upgraded Accenture from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $250.00 to $316.00 in a research note on Wednesday, June 14th. Robert W. Baird boosted their target price on Accenture from $316.00 to $332.00 and gave the stock a “neutral” rating in a report on Friday, September 8th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Societe Generale raised their price target on Accenture from $314.00 to $373.00 and gave the stock a “buy” rating in a research report on Friday, July 7th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $335.25.

Accenture Price Performance

ACN traded down $1.03 during trading on Wednesday, hitting $313.86. 250,085 shares of the stock traded hands, compared to its average volume of 2,296,021. Accenture plc has a twelve month low of $242.80 and a twelve month high of $330.43. The company has a market cap of $208.61 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.79 and a beta of 1.22. The business has a 50 day moving average price of $315.93 and a 200 day moving average price of $295.33.

Accenture (NYSE:ACN) last announced 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 during the quarter, compared to the consensus estimate of $16.49 billion. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 earnings per share. On average, equities research analysts predict that Accenture plc will post 11.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 1,344 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $300.00, for a total value of $403,200.00. Following the sale, the chief accounting officer now owns 10,506 shares of the company’s stock, valued at $3,151,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Accenture news, CEO Julie Spellman Sweet sold 2,930 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $316.23, for a total transaction of $926,553.90. Following the sale, the chief executive officer now owns 21,982 shares of the company’s stock, valued at $6,951,367.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 1,344 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $300.00, for a total transaction of $403,200.00. Following the sale, the chief accounting officer now directly owns 10,506 shares in the company, valued at approximately $3,151,800. The disclosure for this sale can be found here. Insiders have sold a total of 25,774 shares of company stock valued at $8,138,451 over the last 90 days. 0.08% of the stock is owned by insiders.

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.