Accenture plc (NYSE:ACN) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its stake in Accenture plc (NYSE:ACN) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,241 shares of the information technology services provider’s stock after purchasing an additional 1,014 shares during the quarter. Independent Advisor Alliance’s holdings in Accenture were worth $10,287,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Baldwin Wealth Partners LLC MA lifted its holdings in Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after acquiring an additional 3,883 shares during the last quarter. Davidson Trust Co. lifted its holdings in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC lifted its holdings in Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after acquiring an additional 5,038 shares during the last quarter. MQS Management LLC acquired a new stake in Accenture in the 3rd quarter valued at about $1,040,000. Finally, Franklin Street Advisors Inc. NC lifted its holdings in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after acquiring an additional 22,391 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 2.0 %

ACN stock opened at $335.34 on Tuesday. Accenture plc has a 12-month low of $278.69 and a 12-month 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 has a market cap of $209.85 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.23 and a beta of 1.24. The company has a 50 day moving average of $365.40 and a two-hundred day moving average of $358.67.

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, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 EPS. On average, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ACN shares. Jefferies Financial Group cut their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Piper Sandler upped their price objective 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. Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. UBS Group upped 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. 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 research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $388.96.

Insider Activity

In related news, General Counsel Joel Unruch sold 4,750 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the transaction, the general counsel now directly owns 20,526 shares in the company, valued at approximately $7,446,422.28. This trade represents a 18.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’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 transaction, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate insiders.

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.