Accenture plc (NYSE:ACN) Stake Increased by Northcape Wealth Management LLC

Northcape Wealth Management LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,032 shares of the information technology services provider’s stock after buying an additional 37 shares during the quarter. Northcape Wealth Management LLC’s holdings in Accenture were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ACN. Baldwin Wealth Partners LLC MA grew its stake in Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after acquiring an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its position in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC increased its stake in Accenture by 78.6% in 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 buying an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in Accenture in the 3rd quarter worth approximately $1,040,000. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACN has been the subject of a number of research reports. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group cut their price target 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. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction that occurred 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 represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s 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 transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

NYSE:ACN opened at $387.12 on Wednesday. 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 stock has a market cap of $242.26 billion, a P/E ratio of 32.48, a PEG ratio of 3.44 and a beta of 1.24. The company has a fifty day moving average price of $366.33 and a 200 day moving average price of $355.32. Accenture plc has a one year low of $278.69 and a one year 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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the company earned $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

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.