Quent Capital LLC Grows Stock Position in Accenture plc (NYSE:ACN)

Quent Capital LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,910 shares of the information technology services provider’s stock after purchasing an additional 110 shares during the quarter. Quent Capital LLC’s holdings in Accenture were worth $898,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ACN. Norges Bank acquired a new stake in Accenture in the fourth quarter valued at approximately $1,850,765,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Accenture by 101,214.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock valued at $1,078,141,000 after purchasing an additional 4,036,414 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Accenture during the 1st quarter worth $638,488,000. Morgan Stanley grew its stake in shares of Accenture by 14.9% during the fourth quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after purchasing an additional 2,163,582 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Accenture by 21.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,535,663 shares of the information technology services provider’s stock valued at $3,297,009,000 after buying an additional 2,060,646 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.

Insider Buying and Selling at Accenture

In related news, General Counsel Joel Unruch sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $320.60, for a total transaction of $2,244,200.00. Following the sale, the general counsel now owns 36,034 shares in the company, valued at $11,552,500.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Leonardo Framil sold 3,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $311.52, for a total transaction of $934,560.00. Following the transaction, the chief executive officer now directly owns 16,898 shares in the company, valued at approximately $5,264,064.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 7,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $320.60, for a total value of $2,244,200.00. Following the transaction, the general counsel now owns 36,034 shares of the company’s stock, valued at $11,552,500.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,774 shares of company stock worth $8,138,451. Corporate insiders own 0.08% of the company’s stock.

Accenture Stock Down 1.3 %

Shares of ACN traded down $4.06 during mid-day trading on Friday, reaching $312.53. 3,339,266 shares of the company’s stock were exchanged, compared to its average volume of 2,313,004. Accenture plc has a 52-week low of $242.80 and a 52-week high of $330.43. The company has a 50-day simple moving average of $316.18 and a two-hundred day simple moving average of $295.61. The company has a market cap of $207.72 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.68 and a beta of 1.22.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on Accenture from $306.00 to $358.00 in a research note on Wednesday, June 14th. TD Cowen increased their target price on shares of Accenture from $300.00 to $312.00 and gave the company a “market perform” rating in a research report on Tuesday. Societe Generale boosted their price target on shares of Accenture from $314.00 to $373.00 and gave the company a “buy” rating in a research report on Friday, July 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Accenture from $292.00 to $377.00 in a research report on Friday, June 9th. Finally, Robert W. Baird raised their price target on Accenture from $316.00 to $332.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.25.

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.