Daner Wealth Management LLC Invests $407,000 in Accenture plc (NYSE:ACN)

Daner Wealth Management LLC acquired a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,070 shares of the information technology services provider’s stock, valued at approximately $407,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ACN. Morse Asset Management Inc bought a new stake in Accenture in the third quarter valued at about $25,000. FPC Investment Advisory Inc. increased its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the third quarter valued at about $30,000. POM Investment Strategies LLC increased its stake in 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. Finally, Retirement Wealth Solutions LLC bought a new stake in Accenture in the fourth quarter valued at about $34,000. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.2 %

ACN opened at $363.22 on Wednesday. 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 company has a market cap of $227.30 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The firm has a 50 day simple moving average of $367.73 and a 200 day simple moving average of $357.32. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $3.27 earnings per share. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACN shares. Piper Sandler upped 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. Robert W. Baird restated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price target 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. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $387.22.

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.