Accenture plc (NYSE:ACN) Shares Bought by SRN Advisors LLC

SRN Advisors LLC boosted its position in Accenture plc (NYSE:ACN) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,642 shares of the information technology services provider’s stock after buying an additional 625 shares during the quarter. Accenture makes up 2.1% of SRN Advisors LLC’s portfolio, making the stock its 7th biggest position. SRN Advisors LLC’s holdings in Accenture were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. BSW Wealth Partners raised its stake in Accenture by 0.7% in the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after acquiring an additional 28 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the period. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares in the last quarter. Tradition Wealth Management LLC grew its stake in Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares in the last quarter. Finally, New England Professional Planning Group Inc. raised its holdings in Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after acquiring an additional 29 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Price Performance

ACN stock opened at $358.32 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $224.23 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24. The firm’s fifty day moving average is $367.94 and its 200 day moving average is $357.33. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ACN shares. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group decreased their target price 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, UBS Group raised their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $388.96.

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.