Parallel Advisors LLC Increases Position in Accenture plc (NYSE:ACN)

Parallel Advisors LLC raised its stake in Accenture plc (NYSE:ACN) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,584 shares of the information technology services provider’s stock after purchasing an additional 371 shares during the period. Parallel Advisors LLC’s holdings in Accenture were worth $20,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. increased its stake in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture during the third quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $30,000. Finally, POM Investment Strategies LLC increased its position 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 valued at $31,000 after acquiring an additional 34 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the 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 sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ACN shares. Morgan Stanley boosted their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Piper Sandler reduced their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research report on Friday. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets upped their price target 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

Accenture Stock Up 0.4 %

Shares of NYSE ACN opened at $318.28 on Monday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $363.01 and its 200-day simple moving average is $358.24. The firm has a market cap of $199.17 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

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.