Uncovering Institutional Buying In Accenture plc (NYSE: ACN)

Currently, there are 628.27M common shares owned by the public and among those 624.80M shares have been available to trade.

The company’s stock has a 5-day price change of -3.07% and 18.04% over the past three months. ACN shares are trading -3.95% year to date (YTD), with the 12-month market performance up to 7.84% higher. It has a 12-month low price of $278.69 and touched a high of $387.51 over the same period. ACN has an average intraday trading volume of 2.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.07%, 2.66%, and 1.07% respectively.

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Institutional ownership of Accenture plc (NYSE: ACN) shares accounts for 77.09% of the company’s 628.27M shares outstanding.

It has a market capitalization of $211.12B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 30.85, while the earnings-per-share (ttm) stands at $10.92. The company has a PEG of 4.31 and a Quick Ratio of 1.16 with the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 1.71% over the month.

Analysts forecast that Accenture plc (ACN) will achieve an EPS of 2.78 for the current quarter, 3.35 for the next quarter and 12.82 for current fiscal year. The lowest estimate earnings-per-share for the quarter is 2.72 while analysts give the company a high EPS estimate of 2.72. Comparatively, EPS for the current quarter was 2.71 a year ago. Earnings per share for the fiscal year are expected to increase by 2.42%, and 6.97% over the next financial year. EPS should shrink at an annualized rate of 7.17% over the next five years, compared to 11.18% over the past 5-year period.

Looking at the support for the ACN, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on July 19, 2024, with the firm’s price target at $400. Morgan Stanley coverage for the Accenture plc (ACN) stock in a research note released on June 26, 2024 offered a Equal-Weight rating with a price target of $300. Goldman was of a view on June 24, 2024 that the stock is Neutral, while Deutsche Bank gave the stock Hold rating on May 15, 2024, issuing a price target of $409- $295. Susquehanna on their part issued Neutral rating on March 21, 2024.

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