Accenture plc (NYSE:ACN) Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc increased its stake in Accenture plc (NYSE:ACN) by 1,750.0% in the fourth quarter, Holdings Channel reports. The firm owned 222 shares of the information technology services provider’s stock after purchasing an additional 210 shares during the period. Financial Perspectives Inc’s holdings in Accenture were worth $78,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Global Retirement Partners LLC raised its position in Accenture by 2.9% during the 4th quarter. Global Retirement Partners LLC now owns 8,742 shares of the information technology services provider’s stock worth $3,075,000 after buying an additional 247 shares during the last quarter. Northcape Wealth Management LLC raised its position in Accenture by 0.6% during the 4th quarter. Northcape Wealth Management LLC now owns 6,032 shares of the information technology services provider’s stock worth $2,122,000 after buying an additional 37 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new position in Accenture during the 4th quarter worth approximately $728,000. Bank of Jackson Hole Trust purchased a new position in Accenture during the 4th quarter worth approximately $1,011,000. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Accenture by 21.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 22,513 shares of the information technology services provider’s stock valued at $7,920,000 after purchasing an additional 3,967 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of ACN stock opened at $387.12 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The stock has a market capitalization of $242.26 billion, a PE ratio of 32.48, a P/E/G ratio of 3.44 and a beta of 1.24. The firm has a 50 day moving average of $366.33 and a two-hundred day moving average of $355.32.

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

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. UBS Group raised their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research note on Wednesday, October 30th. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Piper Sandler raised their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the business’s 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 completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

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.