Avantax Planning Partners Inc. Acquires 333 Shares of Accenture plc (NYSE:ACN)

Avantax Planning Partners Inc. increased its holdings in Accenture plc (NYSE:ACN) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,973 shares of the information technology services provider’s stock after buying an additional 333 shares during the period. Avantax Planning Partners Inc.’s holdings in Accenture were worth $1,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc bought a new position in Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Accenture in the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture in the 4th quarter valued at $30,000. Finally, POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the period. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ACN has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price target for the company from $370.00 to $420.00 in a report 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 objective on the stock in a research report on Wednesday, January 8th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group raised their price objective 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. Finally, Jefferies Financial Group lowered their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $388.96.

Accenture Price Performance

Shares of NYSE ACN opened at $327.79 on Wednesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. 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’s 50-day moving average is $364.92 and its 200 day moving average is $358.63. The stock has a market capitalization of $205.13 billion, a P/E ratio of 27.50, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (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 company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the company’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 owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the company’s 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 in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is owned by company 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.