Accenture plc (NYSE:ACN) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,170 shares of the information technology services provider's stock after buying an additional 4,579 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Accenture were worth $14,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the 3rd quarter worth about $30,000. POM Investment Strategies LLC boosted its position in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after buying an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the fourth quarter valued at approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock worth $35,000 after buying an additional 85 shares during the period. Institutional investors own 75.14% of the company's stock.

Accenture Stock Down 5.3 %

ACN stock traded down $20.49 on Friday, hitting $364.35. 3,747,836 shares of the company's stock were exchanged, compared to its average volume of 2,728,130. The firm has a 50 day moving average price of $367.37 and a two-hundred day moving average price 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 12-month low of $278.69 and a 12-month high of $398.35. The stock has a market cap of $228.00 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last issued 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 business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.27 earnings per share. As a group, equities research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was 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 approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ACN shares. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective 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 raised their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.