Linscomb Wealth Inc. Has $12.64 Million Stake in Accenture plc (NYSE:ACN)

Linscomb Wealth Inc. lifted its holdings in Accenture plc (NYSE:ACN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,924 shares of the information technology services provider’s stock after purchasing an additional 404 shares during the period. Accenture accounts for approximately 0.6% of Linscomb Wealth Inc.’s portfolio, making the stock its 25th biggest holding. Linscomb Wealth Inc.’s holdings in Accenture were worth $12,638,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after acquiring an additional 4,345,039 shares during the period. Swedbank AB boosted its holdings in Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Proficio Capital Partners LLC grew its position in Accenture by 51,837.3% in the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after purchasing an additional 858,944 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Accenture by 2,666.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after buying an additional 689,366 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Accenture in the third quarter valued at about $204,895,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 0.4 %

Shares of NYSE:ACN opened at $356.96 on Friday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm has a market cap of $223.38 billion, a P/E ratio of 29.95, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $367.64 and its two-hundred day moving average price is $357.33.

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 business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 earnings per share. As a group, research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Morgan Stanley lifted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture 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 sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % 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, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $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 over the last 90 days. Insiders own 0.02% of the company’s stock.

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.