Accenture plc (NYSE:ACN) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in Accenture plc (NYSE:ACN) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,248 shares of the information technology services provider’s stock after buying an additional 5,569 shares during the quarter. Wealthfront Advisers LLC’s holdings in Accenture were worth $19,084,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in shares of Accenture in the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. increased its stake in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture in the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter valued at about $30,000. Finally, POM Investment Strategies LLC grew its stake in 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. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Down 2.2 %

Shares of ACN opened at $327.79 on Wednesday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a market cap of $205.13 billion, a price-to-earnings ratio of 27.50, a PEG 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. The stock has a fifty day moving average price of $364.92 and a two-hundred day moving average price of $358.63.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 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 firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $3.27 EPS. Analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACN. Wolfe Research upgraded 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. Jefferies Financial Group reduced their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets increased their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Activity

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their position. The transaction was disclosed in a legal filing 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 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 approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. 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 in the last 90 days. 0.02% of the stock is owned by company insiders.

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.