Atlas Legacy Advisors LLC Invests $728,000 in Accenture plc (NYSE:ACN)

Atlas Legacy Advisors LLC bought a new stake in Accenture plc (NYSE:ACN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,069 shares of the information technology services provider's stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider's stock valued at $9,685,648,000 after purchasing an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Accenture by 378.9% during 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 acquiring an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Accenture by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider's stock worth $1,705,100,000 after acquiring an additional 56,937 shares in the last quarter. Swedbank AB boosted its holdings in shares of Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider's stock worth $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Accenture by 1.5% in the third 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 in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 5.3 %

NYSE:ACN traded down $20.49 during trading hours on Friday, reaching $364.35. The company's stock had a trading volume of 3,747,836 shares, compared to its average volume of 2,728,130. The firm has a 50-day simple moving average of $367.37 and a 200-day simple moving average of $355.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last released its 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 EPS. Accenture's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACN. The Goldman Sachs Group upgraded Accenture from a "neutral" rating to a "buy" rating and raised their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. BNP Paribas cut shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. Robert W. Baird restated a "neutral" rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Morgan Stanley increased their price objective on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $387.22.

Insider Transactions at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares of the company's stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 375 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company's stock.

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.