Conscious Wealth Investments LLC Raises Stock Holdings in Accenture plc (NYSE:ACN)

Conscious Wealth Investments LLC grew its position in Accenture plc (NYSE:ACN) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 7,945 shares of the information technology services provider’s stock after acquiring an additional 201 shares during the period. Accenture makes up approximately 1.9% of Conscious Wealth Investments LLC’s portfolio, making the stock its 29th largest position. Conscious Wealth Investments LLC’s holdings in Accenture were worth $2,801,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in Accenture during the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. increased its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the third quarter worth $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Accenture during the 4th quarter worth about $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Piper Sandler lifted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Trading Down 5.3 %

ACN opened at $364.35 on Monday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.41 and a beta of 1.24. 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 business has a fifty day moving average price of $367.48 and a 200 day moving average price of $356.65.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.27 EPS. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Insiders own 0.02% of the company’s stock.

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.