Allworth Financial LP boosted its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,733 shares of the information technology services provider's stock after buying an additional 1,910 shares during the quarter. Allworth Financial LP's holdings in Accenture were worth $4,932,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Accenture by 1.8% during the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider's stock worth $9,685,648,000 after buying an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Accenture by 378.9% in the 3rd 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider's stock valued at $1,705,100,000 after purchasing an additional 56,937 shares during the last quarter. Swedbank AB increased its position in shares of 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 purchasing an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Accenture by 1.5% in the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider's stock valued at $668,974,000 after purchasing an additional 28,491 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on ACN shares. The Goldman Sachs Group raised shares of 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 research report on Friday, December 6th. Morgan Stanley increased their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Piper Sandler increased their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Wolfe Research raised shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.22.
Read Our Latest Stock Analysis on ACN
Accenture Stock Performance
Shares of ACN stock traded down $20.49 during mid-day trading on Friday, hitting $364.35. The stock had a trading volume of 3,747,836 shares, compared to its average volume of 2,728,130. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a market cap of $228.00 billion, a PE ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. 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 company's 50-day simple moving average is $367.48 and its 200-day simple moving average is $356.12.
Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 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 analysts' expectations of $17.15 billion. During the same quarter last year, the business earned $3.27 EPS. The business's revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.
Insider Transactions at Accenture
In other news, insider Angela Beatty sold 375 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company's stock.
About Accenture
(
Free Report)
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.
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