78,545 Shares in Accenture plc (NYSE:ACN) Acquired by SVB Wealth LLC

SVB Wealth LLC bought a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 78,545 shares of the information technology services provider’s stock, valued at approximately $27,631,000. Accenture accounts for approximately 0.5% of SVB Wealth LLC’s portfolio, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new position in Accenture during the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% during the 4th 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 in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC raised its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter worth $34,000. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of the firm’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 directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last three months. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACN. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. 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 report on Friday, January 31st. Jefferies Financial Group decreased their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. 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 data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Price Performance

Shares of ACN opened at $348.28 on Friday. The company has a market capitalization of $217.95 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. The business’s 50-day moving average is $367.28 and its two-hundred day moving average is $357.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the business earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts predict that Accenture plc will post 12.73 earnings per share for the current 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.