Global Retirement Partners LLC Grows Stock Position in Accenture plc (NYSE:ACN)

Global Retirement Partners LLC boosted its position in Accenture plc (NYSE:ACN) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,742 shares of the information technology services provider’s stock after buying an additional 247 shares during the quarter. Global Retirement Partners LLC’s holdings in Accenture were worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in Accenture in the third quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the third quarter valued at $30,000. POM Investment Strategies LLC grew 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 valued at $31,000 after purchasing an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture in the fourth quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % 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 worth $8,316,190 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.8 %

NYSE ACN opened at $390.72 on Thursday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $366.87 and a 200-day moving average of $355.57. The firm has a market cap 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 (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 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 company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Analysts Set New Price Targets

ACN has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture 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.