FSM Wealth Advisors LLC Raises Position in Accenture plc (NYSE:ACN)

FSM Wealth Advisors LLC raised its holdings in Accenture plc (NYSE:ACN) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,656 shares of the information technology services provider’s stock after buying an additional 38 shares during the period. FSM Wealth Advisors LLC’s holdings in Accenture were worth $823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Accenture by 1.3% in the 1st quarter. BlackRock Inc. now owns 48,035,644 shares of the information technology services provider’s stock valued at $13,729,067,000 after purchasing an additional 634,462 shares in the last quarter. State Street Corp raised its holdings in shares of Accenture by 2.7% in the 1st quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock valued at $7,560,765,000 after purchasing an additional 704,657 shares in the last quarter. Morgan Stanley raised its holdings in shares of Accenture by 14.9% in the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after purchasing an additional 2,163,582 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Accenture by 21.7% in the 1st 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 purchasing an additional 2,060,646 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Accenture by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 11,463,180 shares of the information technology services provider’s stock valued at $3,269,319,000 after purchasing an additional 191,640 shares in the last quarter. 70.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,250 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $315.00, for a total value of $1,653,750.00. Following the sale, the insider now owns 21,958 shares of the company’s stock, valued at $6,916,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ellyn Shook sold 5,250 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $315.00, for a total value of $1,653,750.00. Following the completion of the transaction, the insider now owns 21,958 shares of the company’s stock, valued at $6,916,770. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the business’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 transaction of $1,976,187.50. Following the completion of the transaction, the insider now directly owns 167,854 shares of the company’s stock, 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 valued at $8,138,451 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Accenture Stock Performance

ACN stock traded up $3.42 during trading on Monday, reaching $315.95. 537,521 shares of the company were exchanged, compared to its average volume of 2,302,651. The company has a market cap of $210.00 billion, a P/E ratio of 28.16, a PEG ratio of 2.70 and a beta of 1.22. Accenture plc has a 52-week low of $242.80 and a 52-week high of $330.43. The stock’s 50 day moving average price is $316.31 and its 200 day moving average price is $296.37.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler upgraded shares of Accenture from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $250.00 to $316.00 in a research note on Wednesday, June 14th. Robert W. Baird lifted their price target on shares of Accenture from $316.00 to $332.00 and gave the stock a “neutral” rating in a research note on Friday, September 8th. Morgan Stanley lifted their price target on shares of Accenture from $340.00 to $356.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. BMO Capital Markets lowered shares of Accenture from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 3rd. Finally, Citigroup restated a “buy” rating and issued a $358.00 price objective on shares of Accenture in a research note on Monday. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $335.25.

About Accenture

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.