Cumberland Partners Ltd Purchases 5,060 Shares of Accenture plc (NYSE:ACN)

Cumberland Partners Ltd boosted its position in shares of Accenture plc (NYSE:ACN) by 62.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,125 shares of the information technology services provider’s stock after purchasing an additional 5,060 shares during the quarter. Cumberland Partners Ltd’s holdings in Accenture were worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Accenture during the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter worth $30,000. POM Investment Strategies LLC increased its holdings 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 valued at $31,000 after purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Accenture in the fourth quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. UBS Group lifted their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Piper Sandler upped their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group reduced their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised 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. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Performance

Shares of NYSE ACN opened at $390.72 on Thursday. The stock has a market capitalization of $244.51 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The stock has a 50 day moving average price of $366.87 and a 200 day moving average price of $355.57. 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 (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the business earned $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the company’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 sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,280 shares of company stock valued at $8,316,190. 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.