PUREfi Wealth LLC Takes Position in Accenture plc (NYSE:ACN)

PUREfi Wealth LLC bought a new stake in Accenture plc (NYSE:ACN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,605 shares of the information technology services provider's stock, valued at approximately $917,000. Accenture makes up approximately 0.9% of PUREfi Wealth LLC's investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the third quarter valued at approximately $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after acquiring 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 $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Up 0.8 %

NYSE ACN traded up $3.16 during trading on Wednesday, reaching $390.72. 1,438,004 shares of the stock traded hands, compared to its average volume of 2,711,225. The stock's 50-day moving average price is $366.33 and its 200 day moving average price is $355.32. 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 firm has a market cap of $244.51 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. Analysts predict that Accenture plc will post 12.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Jefferies Financial Group decreased their price target on Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Piper Sandler lifted their price objective on Accenture from $422.00 to $429.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, BNP Paribas downgraded shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $387.22.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company's stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

About Accenture

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.