Accenture plc (NYSE:ACN) Stock Position Raised by Evoke Wealth LLC

Evoke Wealth LLC lifted its position in Accenture plc (NYSE:ACN) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 5,088 shares of the information technology services provider’s stock after buying an additional 66 shares during the period. Evoke Wealth LLC’s holdings in Accenture were worth $1,790,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Horizon Investments LLC lifted its position in Accenture by 1.8% in the 4th quarter. Horizon Investments LLC now owns 14,873 shares of the information technology services provider’s stock worth $5,210,000 after buying an additional 256 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Accenture by 5.2% in the 4th quarter. Advisors Asset Management Inc. now owns 45,540 shares of the information technology services provider’s stock worth $16,021,000 after buying an additional 2,240 shares in the last quarter. Kensington Investment Counsel LLC lifted its position in Accenture by 6.7% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,185 shares of the information technology services provider’s stock worth $4,990,000 after buying an additional 893 shares in the last quarter. Guardian Partners Inc. purchased a new stake in Accenture in the 4th quarter worth approximately $594,000. Finally, Leelyn Smith LLC lifted its position in Accenture by 0.5% in the 4th quarter. Leelyn Smith LLC now owns 12,987 shares of the information technology services provider’s stock worth $4,569,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ACN. Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. BMO Capital Markets dropped their price target on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research note on Tuesday. UBS Group increased their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler dropped their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $385.65.

Accenture Price Performance

Shares of Accenture stock opened at $324.21 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. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a fifty day moving average price of $361.86 and a two-hundred day moving average price of $358.02. The company has a market cap of $202.89 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

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.