Accenture plc (NYSE:ACN) Shares Acquired by Valmark Advisers Inc.

Valmark Advisers Inc. grew its holdings in Accenture plc (NYSE:ACN - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,871 shares of the information technology services provider's stock after purchasing an additional 3,301 shares during the period. Valmark Advisers Inc.'s holdings in Accenture were worth $6,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Morse Asset Management Inc bought a new position in shares of Accenture during the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture during the 3rd quarter worth $30,000. POM Investment Strategies LLC grew its position in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after buying an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Accenture by 607.1% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Price Performance

Shares of NYSE:ACN traded down $5.16 during trading on Thursday, reaching $385.06. The stock had a trading volume of 2,251,805 shares, compared to its average volume of 2,697,309. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. 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 has a market cap of $240.97 billion, a PE ratio of 32.30, a PEG ratio of 3.44 and a beta of 1.24. The business has a fifty day moving average price of $366.87 and a 200-day moving average price of $355.57.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for 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 company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.27 earnings per share. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACN has been the topic of a number of recent research reports. The Goldman Sachs Group raised Accenture from a "neutral" rating to a "buy" rating and raised their price objective for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Piper Sandler raised 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 raised their price target on Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Friday, December 20th. StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a report on Monday, January 13th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Accenture has an average rating of "Moderate Buy" and a consensus price target of $387.22.

Accenture 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.