Accenture plc (NYSE:ACN) Short interest down 10.1% in August

Accenture plc (NYSE:ACN – Get Rating) saw a sharp drop in short-term interest during August. As of August 15, there was short interest totaling 4,100,000 shares, down 10.1% from the July 31 total of 4,560,000 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 2,070,000 shares, the day-to-cover ratio is currently 2.0 days.

A Wall Street analyst gives his opinion

Several equity research analysts have recently released reports on ACN shares. Robert W. Baird raised his price target on Accenture shares from $310.00 to $338.00 and gave the company a “neutral” rating in a Tuesday, Aug. 9 research note. Cowen cut his price target on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a Friday, June 24 report. Cowen cut his price target on Accenture shares from $330.00 to $325.00 and set an “outperform” rating for the company in a Friday, June 24 report. Piper Sandler cut her price target on Accenture shares from $305.00 to $281.00 and set a “neutral” rating on the stock in a Monday, July 18 report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Accenture from $440.00 to $364.00 in a Friday, June 17 research note. Eight research analysts gave the stock a hold rating and twelve gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.11.

Insider buying and selling at Accenture

A d Stansberry Research

Bonner’s “4th and final prediction”: the first 3 have come true, will it be too?

One of America’s most successful entrepreneurs goes public with “4th and Final Prediction.” His first three all came true – this one too?

Separately, insider Jean-Marc Ollagnier sold 6,250 shares of the company in a trade that took place on Friday, July 15. The shares were sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the transaction, the insider now owns 159,630 shares of the company, valued at approximately $43,248,555.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Separately, General Counsel Joel Unruch sold 555 shares of the company in a transaction dated Thursday, July 28. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the General Counsel now owns 25,601 shares of the company, valued at approximately $7,680,300. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, insider Jean-Marc Ollagnier sold 6,250 shares of the company in a trade that took place on Friday, July 15. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the transaction, the insider now directly owns 159,630 shares of the company, valued at $43,248,555.90. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 11,389 shares of the company worth $3,132,777. 0.07% of the shares are currently held by insiders.

Hedge funds weigh on Accenture

Institutional investors and hedge funds have recently changed their stakes in the company. Paradigm Financial Partners LLC increased its stake in Accenture by 0.3% during the fourth quarter. Paradigm Financial Partners LLC now owns 10,429 shares of the information technology service provider valued at $4,323,000 after buying 35 additional shares last quarter. BNC Wealth Management LLC increased its stake in Accenture by 0.4% during the first quarter. BNC Wealth Management LLC now owns 9,924 shares of the information technology service provider worth $3,347,000 after acquiring 35 additional shares last quarter. Klingman & Associates LLC increased its holdings of Accenture shares by 3.7% during the second quarter. Klingman & Associates LLC now owns 993 shares of the information technology service provider worth $276,000 after buying 35 additional shares in the last quarter. Bray Capital Advisors increased its stake in Accenture by 0.3% in the second quarter. Bray Capital Advisors now owns 11,292 shares of the information technology service provider worth $3,135,000 after buying 35 more shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Accenture by 0.7% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 5,130 shares of the information technology services provider worth $1,424,000 after buying 35 additional shares in the last quarter. 73.73% of the shares are currently held by institutional investors and hedge funds.

Accenture Pricing Performance

ACN shares were down $3.41 during trading hours on Wednesday, hitting $289.09. The stock recorded a trading volume of 38,696 shares, compared to an average volume of 1,569,063 shares. The company has a 50-day simple moving average of $294.90 and a 200-day simple moving average of $304.20. The company has a market capitalization of $182.86 billion, a PE ratio of 28.38, a growth price-earnings ratio of 2.76 and a beta of 1.22. Accenture has a 12-month low of $261.77 and a 12-month high of $417.37.

Accenture (NYSE:ACN – Get Rating) last released its quarterly results on Thursday, June 23. The information technology service provider reported earnings per share of $2.79 for the quarter, missing analyst consensus estimates of $2.84 per ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company posted revenue of $16.16 billion in the quarter, versus analyst estimates of $16.05 billion. During the same period last year, the company posted earnings per share of $2.40. On average, stock analysts expect Accenture to post earnings per share of 10.68 for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15. Investors of record on Thursday, July 14 received a dividend of $0.97 per share. The ex-dividend date was Wednesday, July 13. This represents a dividend of $3.88 on an annualized basis and a dividend yield of 1.34%. Accenture’s payout ratio is currently 37.63%.

About Accenture

(Get an assessment)

Accenture plc, a professional services firm, provides strategy and consulting, interactive, technology and operational services worldwide. The Company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation includes robotic process automation, natural language processing and virtual agents, and liquid application management services, as well as program, project and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption and value realization services; digitization of engineering, research and development; design and development of smart connected products; product platform engineering and modernization; activation of the product as a service; products related to production and operations; autonomous robotic systems; the digital transformation of investment projects; and digital industrial workforce solutions.

See also

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Accenture, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Accenture wasn’t on the list.

Although Accenture currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.