Accenture plc (NYSE:ACN) Holdings Lifted by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC grew its position in Accenture plc (NYSE:ACN - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,075 shares of the information technology services provider's stock after buying an additional 963 shares during the quarter. Accenture accounts for approximately 1.1% of Palumbo Wealth Management LLC's holdings, making the stock its 22nd biggest holding. Palumbo Wealth Management LLC's holdings in Accenture were worth $2,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Everhart Financial Group Inc. grew its holdings in Accenture by 3.4% during the 4th quarter. Everhart Financial Group Inc. now owns 3,810 shares of the information technology services provider's stock valued at $1,340,000 after buying an additional 126 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Accenture by 1.3% during the fourth quarter. Congress Asset Management Co. now owns 68,296 shares of the information technology services provider's stock valued at $24,026,000 after acquiring an additional 886 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Accenture during the 4th quarter worth about $191,000. Aveo Capital Partners LLC lifted its holdings in Accenture by 4.8% in the 4th quarter. Aveo Capital Partners LLC now owns 1,304 shares of the information technology services provider's stock valued at $459,000 after purchasing an additional 60 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of Accenture by 3.0% during the 4th quarter. Manchester Capital Management LLC now owns 4,114 shares of the information technology services provider's stock worth $1,447,000 after purchasing an additional 119 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 0.8 %

Shares of ACN stock traded up $3.16 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. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The firm has a market capitalization of $244.51 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock's 50 day moving average is $366.33 and its 200-day moving average is $355.32.

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

Analysts Set New Price Targets

ACN has been the topic of several recent analyst reports. Wolfe Research raised shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Robert W. Baird restated a "neutral" rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Finally, Piper Sandler increased their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $387.22.

Insider Buying and Selling at Accenture

In related news, 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 transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela Beatty sold 375 shares of the business'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 sale, the insider now owns 5,149 shares of the company's stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last ninety days. 0.02% of the stock is owned by insiders.

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.