Accenture plc (NYSE:ACN) Stock Holdings Raised by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in Accenture plc (NYSE:ACN) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 57,435 shares of the information technology services provider’s stock after purchasing an additional 775 shares during the period. Avantax Advisory Services Inc.’s holdings in Accenture were worth $20,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the 3rd quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $30,000. Finally, POM Investment Strategies LLC grew its position in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. BMO Capital Markets upped their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley upped their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus reduced their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Down 1.1 %

ACN stock opened at $324.25 on Thursday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm has a 50 day simple moving average of $364.36 and a 200 day simple moving average of $358.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $202.91 billion, a PE ratio of 27.20, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the business earned $3.27 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This represents a 7.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is owned by company insiders.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, 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 comprising 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 comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.