Sand Hill Global Advisors LLC Raises Stake in Accenture plc (NYSE:ACN)

Posted by Defense World Staff on Sep 9th, 2023

Sand Hill Global Advisors LLC increased its stake in Accenture plc (NYSE:ACN – Free Report) by 2.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 8,286 shares of the information technology services provider’s stock after buying an additional 163 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in Accenture were worth $2,368,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barrett & Company Inc. purchased a new stake in Accenture during the first quarter valued at about $29,000. Sageworth Trust Co lifted its holdings 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 purchasing an additional 96 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in Accenture during the first quarter valued at about $32,000. Elequin Securities LLC purchased a new stake in Accenture during the fourth quarter valued at about $34,000. Finally, First Command Financial Services Inc. lifted its holdings in Accenture by 131.6% during the first quarter. First Command Financial Services Inc. now owns 132 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 75 shares during the last quarter. 70.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Joel Unruch sold 7,000 shares of the stock in a transaction that occurred 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 sale, the general counsel now owns 36,034 shares of the company’s stock, valued at $11,552,500.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $316.19, for a total value of $1,976,187.50. Following the completion of the sale, the insider now owns 167,854 shares of the company’s stock, valued at $53,073,756.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $2,244,200.00. Following the completion of the sale, the general counsel now directly owns 36,034 shares of the company’s stock, valued at approximately $11,552,500.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,774 shares of company stock valued at $8,138,451. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACN. Citigroup upped their price target on Accenture from $306.00 to $358.00 in a research report on Wednesday, June 14th. Societe Generale upped their price target on Accenture from $314.00 to $373.00 and gave the company a “buy” rating in a research report on Friday, July 7th. Piper Jaffray Companies decreased their price target on Accenture from $316.00 to $314.00 and set a “neutral” rating on the stock in a research report on Friday, June 23rd. TD Cowen cut Accenture from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $325.00 to $300.00 in a research report on Friday, June 23rd. Finally, Piper Sandler upgraded shares of Accenture from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $250.00 to $316.00 in a research report on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $331.35.

Get Our Latest Report on Accenture

Accenture Price Performance

Shares of NYSE ACN opened at $325.47 on Friday. Accenture plc has a one year low of $242.80 and a one year high of $330.43. The firm’s 50 day simple moving average is $315.54 and its two-hundred day simple moving average is $294.25. The stock has a market capitalization of $216.32 billion, a P/E ratio of 29.01, a PEG ratio of 2.78 and a beta of 1.22.

Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 EPS for the quarter, beating 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 business had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period last year, the business earned $2.79 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities analysts expect that Accenture plc will post 11.59 earnings per share for the current fiscal year.

Accenture Profile

(Free Report)

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.

Sand Hill Global Advisors LLC Raises Stake in Accenture plc (NYSE:ACN)

Insider Activity

Wall Street Analysts Forecast Growth

Accenture Price Performance

Accenture Profile

Further Reading

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