EdgeRock Capital LLC Increases Holdings in Accenture plc (NYSE:ACN)

EdgeRock Capital LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 716 shares of the information technology services provider’s stock after purchasing an additional 62 shares during the quarter. EdgeRock Capital LLC’s holdings in Accenture were worth $252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. boosted its holdings in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC grew its position in shares of Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC bought a new stake in shares of Accenture in the third quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. The trade was a 7.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Accenture Trading Down 0.2 %

NYSE ACN opened at $363.66 on Tuesday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company’s 50-day moving average price is $367.61 and its 200-day moving average price is $356.99. The stock has a market cap of $227.58 billion, a PE ratio of 30.51, a PEG ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

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

Analyst Ratings Changes

A number of research firms have issued reports on ACN. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley increased their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, UBS Group increased their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.