Accenture plc (NYSE:ACN) Position Boosted by FWG Holdings LLC

FWG Holdings LLC lifted its stake in Accenture plc (NYSE:ACN) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,757 shares of the information technology services provider’s stock after purchasing an additional 200 shares during the quarter. FWG Holdings LLC’s holdings in Accenture were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sound View Wealth Advisors Group LLC boosted its stake in shares of Accenture by 16.6% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,610 shares of the information technology services provider’s stock valued at $566,000 after buying an additional 229 shares during the period. Enterprise Financial Services Corp boosted its position in Accenture by 4.1% during the fourth quarter. Enterprise Financial Services Corp now owns 2,402 shares of the information technology services provider’s stock valued at $845,000 after purchasing an additional 95 shares during the last quarter. Argentarii LLC purchased a new position in Accenture in the fourth quarter valued at about $422,000. United Community Bank increased its position in Accenture by 1.5% in the 4th quarter. United Community Bank now owns 2,069 shares of the information technology services provider’s stock worth $728,000 after purchasing an additional 30 shares during the last quarter. Finally, Amundi raised its stake in shares of Accenture by 27.9% during the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after purchasing an additional 826,038 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 961 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the transaction, the insider now owns 5,484 shares in the company, valued at $1,943,913.48. This trade represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Angie Y. Park sold 685 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was 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 of the company’s stock, valued at approximately $3,073,892.12. The trade was a 7.32 % 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 valued at $8,316,190 over the last ninety days. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ACN. BMO Capital Markets boosted their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Morgan Stanley increased their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Performance

NYSE:ACN opened at $341.68 on Monday. The firm’s 50-day moving average is $365.74 and its 200-day moving average is $358.64. The company has a market cap of $213.82 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.23 and a beta of 1.24. 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 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last issued 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 return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the company posted $3.27 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current 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.