BKM Wealth Management LLC Has $2.83 Million Stake in Accenture plc (NYSE:ACN)

BKM Wealth Management LLC boosted its holdings in Accenture plc (NYSE:ACN) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,056 shares of the information technology services provider’s stock after purchasing an additional 220 shares during the quarter. Accenture comprises approximately 1.2% of BKM Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding. BKM Wealth Management LLC’s holdings in Accenture were worth $2,834,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACN. Swedbank AB boosted its holdings in Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after acquiring an additional 363,401 shares during the last quarter. AA Financial Advisors LLC bought a new stake in Accenture in the 3rd quarter worth about $270,000. Allspring Global Investments Holdings LLC lifted its position in shares of Accenture by 10.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,330 shares of the information technology services provider’s stock worth $71,520,000 after buying an additional 19,958 shares in the last quarter. Brown Lisle Cummings Inc. boosted its stake in shares of Accenture by 2.5% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 23,006 shares of the information technology services provider’s stock worth $8,132,000 after buying an additional 570 shares during the last quarter. Finally, Violich Capital Management Inc. increased its position in shares of Accenture by 2.8% during the third quarter. Violich Capital Management Inc. now owns 36,977 shares of the information technology services provider’s stock valued at $13,071,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ACN shares. Robert W. Baird reiterated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Jefferies Financial Group decreased their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was 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 approximately $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.4 %

Shares of Accenture stock opened at $387.99 on Tuesday. The company has a 50 day simple moving average of $365.29 and a two-hundred day simple moving average of $354.45. The firm has a market cap of $242.80 billion, a PE ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the business earned $3.27 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal 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.