Proficio Capital Partners LLC Purchases 858,944 Shares of Accenture plc (NYSE:ACN)

Proficio Capital Partners LLC grew its position in shares of Accenture plc (NYSE:ACN) by 51,837.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 860,601 shares of the information technology services provider’s stock after buying an additional 858,944 shares during the quarter. Proficio Capital Partners LLC’s holdings in Accenture were worth $302,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new position in Accenture during the 3rd quarter worth $25,000. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth $30,000. POM Investment Strategies LLC increased its position 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 during the period. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the fourth quarter worth $34,000. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last ninety days. 0.02% of the stock is owned by company insiders.

Accenture Price Performance

Accenture stock opened at $358.32 on Thursday. The stock’s 50 day moving average is $367.94 and its 200 day moving average is $357.33. 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 cap of $224.23 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.27 earnings per share. As a group, research analysts expect that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent analyst reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $388.96.

About Accenture

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.