Atria Investments Inc Raises Position in Accenture plc (NYSE:ACN)

Atria Investments Inc raised its holdings in shares of Accenture plc (NYSE:ACN) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,450 shares of the information technology services provider’s stock after acquiring an additional 3,152 shares during the quarter. Atria Investments Inc’s holdings in Accenture were worth $27,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baldwin Wealth Partners LLC MA grew its stake in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares during the last quarter. Davidson Trust Co. raised its stake in shares of Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC lifted its stake in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after acquiring an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in Accenture in the third quarter worth approximately $1,040,000. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by company insiders.

Accenture Trading Up 0.2 %

Shares of NYSE:ACN opened at $345.84 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $216.42 billion, a PE ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.24. The business has a 50 day moving average of $366.68 and a two-hundred day moving average of $358.37. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion during 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 revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 earnings per share. As a group, analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ACN shares. BMO Capital Markets raised their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.