Ethos Financial Group LLC Has $520,000 Position in Accenture plc (NYSE:ACN)

Ethos Financial Group LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,470 shares of the information technology services provider’s stock after purchasing an additional 50 shares during the quarter. Ethos Financial Group LLC’s holdings in Accenture were worth $520,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Accenture by 378.9% during the 3rd 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 worth $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Accenture by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after buying an additional 140,726 shares during the period. Swedbank AB lifted its stake in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Accenture in the 4th quarter valued at about $666,495,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ACN shares. The Goldman Sachs Group upgraded 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. Jefferies Financial Group decreased their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus reduced their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Stock Performance

ACN opened at $341.34 on Friday. The business has a 50 day moving average of $366.03 and a 200-day moving average of $358.18. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The stock has a market cap of $213.61 billion, a price-to-earnings ratio of 28.64, a PEG 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.

Accenture (NYSE:ACN) last posted its 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the company posted $3.27 EPS. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, 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. Over the last quarter, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is 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.