Fortress Financial Group LLC Makes New $202,000 Investment in Accenture plc (NYSE:ACN)

Fortress Financial Group LLC bought a new position in Accenture plc (NYSE:ACN) during the fourth quarter, HoldingsChannel.com reports. The fund bought 573 shares of the information technology services provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BSW Wealth Partners raised its position in Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after acquiring an additional 28 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares in the last quarter. FPC Investment Advisory Inc. grew its holdings in 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 during the last quarter. Tradition Wealth Management LLC increased its position in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after buying an additional 29 shares in the last quarter. Finally, New England Professional Planning Group Inc. raised its holdings in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley increased their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. 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 research report on Tuesday, January 21st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Trading Down 0.4 %

NYSE:ACN opened at $356.96 on Friday. 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’s 50-day moving average is $367.64 and its two-hundred day moving average is $357.33. The firm has a market capitalization of $223.38 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 EPS. Research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Accenture 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.