Prelude Capital Management LLC Invests $292,000 in Accenture plc (NYSE:ACN)

Prelude Capital Management LLC purchased a new position in shares of Accenture plc (NYSE:ACN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,021 shares of the information technology services provider’s stock, valued at approximately $292,000.

Other institutional investors have also modified their holdings of the company. Ashburton Jersey Ltd purchased a new position in shares of Accenture during the 1st quarter worth $143,000. GW Henssler & Associates Ltd. purchased a new stake in Accenture in the 1st quarter valued at about $207,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Accenture by 12.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,668 shares of the information technology services provider’s stock valued at $27,914,000 after buying an additional 10,994 shares during the period. Alpha Financial Partners LLC purchased a new stake in Accenture in the 4th quarter valued at about $263,000. Finally, Main Street Financial Solutions LLC raised its holdings in Accenture by 10.7% in the 1st quarter. Main Street Financial Solutions LLC now owns 2,792 shares of the information technology services provider’s stock valued at $799,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 70.42% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,344 shares of the business’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 completion of the sale, the chief accounting officer now owns 10,506 shares in the company, valued at $3,151,800. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Accenture news, CAO Melissa A. Burgum sold 1,344 shares of the business’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 completion of the sale, the chief accounting officer now owns 10,506 shares in the company, valued at $3,151,800. The sale was disclosed in a document filed with the SEC, which is available 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 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 approximately $53,073,756.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,774 shares of company stock worth $8,138,451. 0.08% of the stock is owned by insiders.

Accenture Stock Up 1.1 %

Shares of ACN opened at $315.91 on Tuesday. The stock has a 50 day moving average price of $316.31 and a 200 day moving average price of $296.37. The company has a market capitalization of $209.97 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth 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.

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

Analyst Ratings Changes

Several analysts recently issued reports on ACN shares. TD Cowen boosted their price objective on shares of Accenture from $300.00 to $312.00 and gave the company a “market perform” rating in a report on Tuesday, September 12th. BMO Capital Markets downgraded Accenture from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Morgan Stanley lifted their target price on Accenture from $340.00 to $356.00 and gave the company an “overweight” rating in a research report on Tuesday, September 12th. Piper Sandler raised Accenture from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $250.00 to $316.00 in a research report on Wednesday, June 14th. Finally, Citigroup reaffirmed a “buy” rating and issued a $358.00 target price on shares of Accenture in a research report on Monday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.