Prosperitas Financial LLC Acquires 389 Shares of Accenture plc (NYSE:ACN)

Prosperitas Financial LLC grew its position in Accenture plc (NYSE:ACN) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 7,835 shares of the information technology services provider’s stock after purchasing an additional 389 shares during the period. Accenture comprises about 1.4% of Prosperitas Financial LLC’s investment portfolio, making the stock its 26th largest holding. Prosperitas Financial LLC’s holdings in Accenture were worth $2,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA raised its stake in shares of Accenture by 6.5% in the fourth 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 during the period. Davidson Trust Co. increased its stake in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares during the period. 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 worth $4,047,000 after buying an additional 5,038 shares during the period. MQS Management LLC purchased a new position in Accenture in the 3rd quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC increased its stake in Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACN shares. The Goldman Sachs Group raised shares of 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 note on Friday, December 6th. Stifel Nicolaus reduced their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets increased their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 0.4 %

NYSE:ACN opened at $356.96 on Friday. The company’s 50-day simple moving average is $367.64 and its 200-day simple moving average is $357.33. The stock has a market capitalization of $223.38 billion, a P/E ratio of 29.95, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business earned $3.27 EPS. On average, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of Accenture 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 transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, 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. In the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by insiders.

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.