Sunpointe LLC Raises Position in Accenture plc (NYSE:ACN)

Sunpointe LLC lifted its stake in Accenture plc (NYSE:ACN) by 8.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 876 shares of the information technology services provider’s stock after buying an additional 65 shares during the period. Sunpointe LLC’s holdings in Accenture were worth $308,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Masso Torrence Wealth Management Inc. boosted its stake in shares of Accenture by 2.0% in the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after buying an additional 28 shares during the last quarter. BSW Wealth Partners lifted its holdings in Accenture by 0.7% in the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after acquiring an additional 28 shares during the period. Newbridge Financial Services Group Inc. grew its stake in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC increased its position in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in shares of Accenture by 0.3% in the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after buying an additional 30 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent research reports. 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 report on Wednesday, January 8th. Jefferies Financial Group lowered their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Piper Sandler increased their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Up 0.8 %

Shares of NYSE ACN opened at $390.72 on Thursday. The stock 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. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $366.87 and its 200-day moving average price is $355.57.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 EPS. On average, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of the 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 transaction, the insider now owns 5,149 shares in the company, valued at approximately $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 have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is owned by corporate 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.