Clear Rock Advisors LLC has bought 6,420 shares in Accenture plc, showing a growing interest in Accenture plc. This is despite Accenture's share price reaching a new 52-week low at $285.55. Furthermore,
TrinityPoint Wealth LLC also acquired 125 shares of Accenture Plc, and the company's shares appear to have a consensus recommendation of 'Moderate Buy' from analysts. While the
Accenture stock dipped, it still outperformed the broader markets. With 78% of
Accenture plc owned by institutions, it shows a strong backing from this group. A recent development is that Accenture's Subsidiary completed the acquisition of
Cognosante. Despite the recent sell-off by insiders, institutional owners are still favoring the company. In its Q2 2024 earnings, Accenture reported stable revenues and increased margins. The stock has surged to a 52-week high with investor attention mainly due to the exceeded expectations and an EPS beat. Despite recent share price dip, analysts still remain bullish on the stock and perceive the market dip as an overreaction.
Accenture's earnings growth rate lags behind the 14% CAGR, suggesting further growth opportunities. Accenture has also entered into oversold territory, hinting at being undervalued. The estimated intrinsic value of the company is potentially 25% below its share price, suggesting a buying opportunity.
Accenture Plc ACN News Analytics from Sun, 29 Oct 2023 22:30:24 GMT to Sun, 02 Jun 2024 19:33:10 GMT -
Rating 5
- Innovation 7
- Information 8
- Rumor -4
