Legacy Capital Group California Inc. Grows Position in Accenture plc (NYSE:ACN)

Legacy Capital Group California Inc. boosted its position in Accenture plc (NYSE:ACN) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,155 shares of the information technology services provider’s stock after purchasing an additional 79 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Accenture were worth $406,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after buying an additional 4,345,039 shares during the last quarter. Swedbank AB raised its position in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Accenture by 2,666.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after purchasing an additional 689,366 shares in the last quarter. Holocene Advisors LP purchased a new stake in Accenture during the 3rd quarter valued at about $204,895,000. Finally, International Assets Investment Management LLC increased its stake in Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

NYSE ACN opened at $364.35 on Friday. The stock has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company’s 50 day moving average is $367.48 and its two-hundred day moving average is $356.12. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The company 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%. Accenture’s quarterly 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 EPS. As a group, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction on Wednesday, February 5th. The stock was 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 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 disclosure for this sale can be found here. In 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

A number of equities research analysts have recently commented on ACN shares. BMO Capital Markets increased their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. 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 note on Wednesday, January 8th. Finally, BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

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.