Sunpointe LLC Buys 65 Shares of Accenture plc (NYSE:ACN)

Sunpointe LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 876 shares of the information technology services provider’s stock after buying an additional 65 shares during the period. Sunpointe LLC’s holdings in Accenture were worth $308,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the 3rd quarter worth about $30,000. POM Investment Strategies LLC increased its stake 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 buying an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Morgan Stanley boosted 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 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. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $390.72 on Thursday. The firm’s 50 day simple moving average is $366.87 and its 200 day simple moving average is $355.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm has a market capitalization of $244.51 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

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