Brown Miller Wealth Management LLC Has $3.02 Million Stake in Accenture plc (NYSE:ACN)

Brown Miller Wealth Management LLC raised its stake in shares of Accenture plc (NYSE:ACN) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,581 shares of the information technology services provider’s stock after purchasing an additional 578 shares during the period. Accenture makes up approximately 1.2% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. Brown Miller Wealth Management LLC’s holdings in Accenture were worth $3,019,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the 3rd quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $30,000. Finally, POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 2.4 %

Shares of NYSE:ACN opened at $316.48 on Friday. The firm has a fifty day moving average of $363.72 and a 200 day moving average of $358.10. 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. The firm has a market capitalization of $198.05 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 3.23 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 (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 business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACN has been the topic of a number of research reports. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. The Goldman Sachs Group raised shares of 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. Finally, BMO Capital Markets boosted their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the 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 sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents 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 three months. Company insiders own 0.02% of the company’s stock.

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.