Accenture plc (NYSE:ACN) Shares Bought by Dover Advisors LLC

Dover Advisors LLC increased its position in Accenture plc (NYSE:ACN) by 0.9% during the fourth quarter, Holdings Channel reports. The fund owned 5,513 shares of the information technology services provider’s stock after purchasing an additional 50 shares during the quarter. Accenture comprises approximately 1.1% of Dover Advisors LLC’s investment portfolio, making the stock its 24th largest position. Dover Advisors LLC’s holdings in Accenture were worth $1,939,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. raised 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 acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the 3rd quarter worth $30,000. POM Investment Strategies LLC grew its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Accenture during the fourth quarter valued at $34,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Down 5.3 %

Shares of NYSE:ACN opened at $364.35 on Monday. The firm has a 50 day simple moving average of $367.48 and a 200 day simple moving average of $356.65. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24.

Accenture (NYSE:ACN) last released its 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 return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the prior year, the company earned $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’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 completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BMO Capital Markets lifted their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group cut their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

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.