Financial Perspectives Inc Raises Position in Accenture plc (NYSE:ACN)

Financial Perspectives Inc increased its holdings in Accenture plc (NYSE:ACN) by 1,750.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 222 shares of the information technology services provider’s stock after purchasing an additional 210 shares during the quarter. Financial Perspectives Inc’s holdings in Accenture were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture in the third quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the third quarter valued at about $30,000. POM Investment Strategies LLC increased 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 acquiring an additional 34 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture in the fourth quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased 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 acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACN. Piper Sandler lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. BMO Capital Markets lifted their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Price Performance

ACN stock opened at $387.12 on Wednesday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 has a fifty day simple moving average of $366.33 and a two-hundred day simple moving average of $355.32. The firm has a market capitalization of $242.26 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the business earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.