Concurrent Investment Advisors LLC Increases Stock Position in Accenture plc (NYSE:ACN)

Concurrent Investment Advisors LLC increased its position in Accenture plc (NYSE:ACN) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,170 shares of the information technology services provider’s stock after acquiring an additional 4,579 shares during the period. Concurrent Investment Advisors LLC’s holdings in Accenture were worth $14,131,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after acquiring an additional 4,345,039 shares during the last quarter. Swedbank AB increased its stake in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after purchasing an additional 689,366 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Accenture during the 3rd quarter valued at about $204,895,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ACN shares. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Piper Sandler increased their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Morgan Stanley upped their target price 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. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity

In related news, insider Angela Beatty sold 375 shares of the business’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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $390.72 on Thursday. The company has a 50 day moving average price of $366.87 and a 200-day moving average price of $355.57. 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. The company has a market capitalization of $244.51 billion, a PE ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24.

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, 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 firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Company 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.