Accenture plc (NYSE:ACN) Position Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of Accenture plc (NYSE:ACN) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,100 shares of the information technology services provider’s stock after acquiring an additional 1,511 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Accenture were worth $7,774,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ACN. Swedbank AB lifted its position in shares of Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Accenture in the 3rd quarter worth about $745,000. Harbour Investments Inc. lifted its position in shares of Accenture by 14.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,143 shares of the information technology services provider’s stock worth $404,000 after buying an additional 141 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Accenture by 8.9% in the 3rd quarter. Victory Capital Management Inc. now owns 375,945 shares of the information technology services provider’s stock worth $132,889,000 after buying an additional 30,725 shares during the last quarter. Finally, Bancreek Capital Management LP lifted its position in shares of Accenture by 11.5% in the 3rd quarter. Bancreek Capital Management LP now owns 20,529 shares of the information technology services provider’s stock worth $7,257,000 after buying an additional 2,122 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Accenture 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 completion of the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the firm’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 transaction, the insider now owns 5,149 shares of the company’s stock, 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 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price target 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. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Performance

Shares of ACN opened at $324.25 on Thursday. The firm’s 50 day moving average is $364.36 and its 200-day moving average is $358.39. The stock has a market capitalization of $202.91 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.27 EPS. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

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.