Centricity Wealth Management LLC Purchases New Holdings in Accenture plc (NYSE:ACN)

Centricity Wealth Management LLC acquired a new position in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 179 shares of the information technology services provider’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACN. Legacy Capital Group California Inc. boosted its holdings in shares of Accenture by 7.3% in the fourth quarter. Legacy Capital Group California Inc. now owns 1,155 shares of the information technology services provider’s stock valued at $406,000 after acquiring an additional 79 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its holdings in Accenture by 77.0% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 4,231 shares of the information technology services provider’s stock valued at $1,488,000 after purchasing an additional 1,840 shares in the last quarter. Mattern Capital Management LLC increased its position in Accenture by 2.3% during the 4th quarter. Mattern Capital Management LLC now owns 28,673 shares of the information technology services provider’s stock worth $10,087,000 after purchasing an additional 637 shares during the period. Parcion Private Wealth LLC raised its stake in shares of Accenture by 2.2% during the 4th quarter. Parcion Private Wealth LLC now owns 18,452 shares of the information technology services provider’s stock worth $6,491,000 after buying an additional 400 shares in the last quarter. Finally, Dash Acquisitions Inc. boosted its stake in shares of Accenture by 2.6% in the fourth quarter. Dash Acquisitions Inc. now owns 45,040 shares of the information technology services provider’s stock valued at $17,043,000 after buying an additional 1,144 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. 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 report on Friday, December 20th. Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

Accenture stock opened at $364.35 on Friday. The firm’s 50-day moving average is $367.48 and its two-hundred day moving average is $356.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month 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 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 firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the company earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by insiders.

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.