Pure Financial Advisors LLC Sells 897 Shares of Accenture plc (NYSE:ACN)

Pure Financial Advisors LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 25.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,642 shares of the information technology services provider’s stock after selling 897 shares during the quarter. Pure Financial Advisors LLC’s holdings in Accenture were worth $815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ACN. Strategic Investment Solutions Inc. IL bought a new stake in shares of Accenture during the 1st quarter worth $28,000. Barrett & Company Inc. acquired a new position in Accenture in the 1st quarter worth about $29,000. Sageworth Trust Co increased its holdings in Accenture by 872.7% in the 1st quarter. Sageworth Trust Co now owns 107 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in Accenture in the 1st quarter worth about $32,000. Finally, First Command Financial Services Inc. increased its holdings in Accenture by 131.6% in the 1st quarter. First Command Financial Services Inc. now owns 132 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 75 shares in the last quarter. 70.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Accenture Price Performance

NYSE ACN opened at $312.53 on Friday. The business has a 50 day simple moving average of $316.31 and a 200 day simple moving average of $296.14. Accenture plc has a one year low of $242.80 and a one year high of $330.43. The stock has a market capitalization of $207.72 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.68 and a beta of 1.22.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 EPS for the quarter, topping the consensus estimate of $2.96 by $0.23. The business 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 firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 earnings per share. Equities analysts expect that Accenture plc will post 11.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent 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 report on Tuesday, August 22nd. Societe Generale upped their target price on Accenture from $314.00 to $373.00 and gave the stock a “buy” rating in a report on Friday, July 7th. Barclays upped their target price on Accenture from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, September 11th. Citigroup upped their target price on Accenture from $306.00 to $358.00 in a report on Wednesday, June 14th. Finally, Piper Jaffray Companies decreased their price target on Accenture from $316.00 to $314.00 and set a “neutral” rating for the company in a research note on Friday, June 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.