MJP Associates Inc. ADV Decreases Stock Position in Accenture plc (NYSE:ACN)

MJP Associates Inc. ADV decreased its position in shares of Accenture plc (NYSE:ACN) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,836 shares of the information technology services provider’s stock after selling 34 shares during the quarter. MJP Associates Inc. ADV’s holdings in Accenture were worth $567,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Accenture in the fourth quarter worth about $1,850,765,000. Moneta Group Investment Advisors LLC boosted its holdings in 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 worth $1,078,141,000 after buying an additional 4,036,414 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Accenture during the first quarter worth $638,488,000. Morgan Stanley boosted its holdings in shares of Accenture by 14.9% in 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 acquiring an additional 2,163,582 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 2,060,646 shares in the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.

Insider Buying and Selling at Accenture

In related news, CEO Leonardo Framil sold 3,000 shares of Accenture stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $311.52, for a total value of $934,560.00. Following the sale, the chief executive officer now owns 16,898 shares in the company, valued at $5,264,064.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 7,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $320.60, for a total transaction of $2,244,200.00. Following the completion of the transaction, the general counsel now owns 36,034 shares of the company’s stock, valued at $11,552,500.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leonardo Framil sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $311.52, for a total transaction of $934,560.00. Following the completion of the sale, the chief executive officer now directly owns 16,898 shares in the company, valued at $5,264,064.96. The disclosure for this sale can be found here. Insiders sold 25,774 shares of company stock valued at $8,138,451 in the last 90 days. Insiders own 0.08% of the company’s stock.

Accenture Stock Performance

NYSE:ACN traded up $3.38 during trading hours on Monday, reaching $315.91. The company’s stock had a trading volume of 366,070 shares, compared to its average volume of 2,301,897. The firm has a market capitalization of $209.97 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.68 and a beta of 1.22. The firm has a 50-day simple moving average of $316.31 and a 200-day simple moving average of $296.37. Accenture plc has a 1 year low of $242.80 and a 1 year high of $330.43.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share for the quarter, beating 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 net margin of 11.28% and a return on equity of 30.47%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 EPS. Equities analysts anticipate that Accenture plc will post 11.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ACN. Morgan Stanley raised their target price on Accenture from $340.00 to $356.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. Societe Generale boosted their price objective on shares of Accenture from $314.00 to $373.00 and gave the company a “buy” rating in a research note on Friday, July 7th. Piper Sandler upgraded shares of Accenture from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $250.00 to $316.00 in a research note on Wednesday, June 14th. BMO Capital Markets lowered shares of Accenture from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies dropped their price objective 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.