Gallacher Capital Management LLC Takes Position in Accenture plc (NYSE:ACN)

Gallacher Capital Management LLC purchased a new stake in Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 678 shares of the information technology services provider’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its stake in 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 valued at $182,000 after purchasing an additional 28 shares during the period. FPC Investment Advisory Inc. boosted its stake 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 purchasing an additional 28 shares during the period. Tradition Wealth Management LLC boosted its stake in Accenture by 0.3% during 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 purchasing an additional 29 shares during the period. New England Professional Planning Group Inc. boosted its stake 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 purchasing an additional 29 shares during the period. Finally, TCW Group Inc. boosted its stake in Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after purchasing an additional 30 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related 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 transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Piper Sandler reduced their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research note on Friday. 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. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $387.52.

Accenture Stock Up 0.4 %

ACN stock opened at $318.28 on Monday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company’s 50 day simple moving average is $363.01 and its 200-day simple moving average is $358.24. 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 firm has a market capitalization of $199.17 billion, a P/E ratio of 26.70, 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. As a group, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

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.