Venturi Wealth Management LLC Grows Position in Accenture plc (NYSE:ACN)

Venturi Wealth Management LLC grew its position in Accenture plc (NYSE:ACN) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,718 shares of the information technology services provider’s stock after acquiring an additional 1,521 shares during the quarter. Venturi Wealth Management LLC’s holdings in Accenture were worth $2,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after purchasing an additional 4,345,039 shares during the period. Swedbank AB increased its position in Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Assenagon Asset Management S.A. raised its stake in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after acquiring an additional 689,366 shares during the last quarter. Holocene Advisors LP acquired a new stake in Accenture during the 3rd quarter worth approximately $204,895,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Accenture by 37,788.5% in the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.4 %

Shares of Accenture stock opened at $387.99 on Tuesday. 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. The business has a 50 day moving average price of $365.29 and a 200 day moving average price of $354.45. The company has a market capitalization of $242.80 billion, a P/E ratio of 32.55, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 earnings per share. Sell-side analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ACN shares. Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $370.00 to $396.00 and gave the company 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 increased their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Company 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.