BXM Wealth LLC Buys New Stake in Accenture plc (NYSE:ACN)

BXM Wealth LLC purchased a new position in Accenture plc (NYSE:ACN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,624 shares of the information technology services provider's stock, valued at approximately $571,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ACN. Creative Planning increased its stake in Accenture by 5.5% during the third quarter. Creative Planning now owns 247,724 shares of the information technology services provider's stock worth $87,566,000 after acquiring an additional 12,993 shares during the last quarter. Swedbank AB increased its position in shares of Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider's stock worth $901,967,000 after purchasing an additional 363,401 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Accenture by 45.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,874 shares of the information technology services provider's stock valued at $662,000 after acquiring an additional 589 shares during the period. Kowal Investment Group LLC acquired a new stake in Accenture during the 3rd quarter worth about $222,000. Finally, Probity Advisors Inc. purchased a new position in Accenture in the 3rd quarter valued at about $208,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

ACN traded up $3.16 during trading hours on Wednesday, hitting $390.72. The stock had a trading volume of 1,438,004 shares, compared to its average volume of 2,711,225. 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 stock has a market cap of $244.51 billion, a PE ratio of 32.78, a price-to-earnings-growth 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's fifty day simple moving average is $366.33 and its 200 day simple moving average is $355.32.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.27 earnings per share. Equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred 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 transaction, the chief executive officer now owns 11,858 shares of the company's stock, valued at $4,677,625.26. The trade was 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 available through the SEC website. Also, insider Angela Beatty sold 375 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last quarter. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. UBS Group raised their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Wolfe Research upgraded shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. The Goldman Sachs Group raised shares of Accenture from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Robert W. Baird reissued a "neutral" rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.