Accenture plc (NYSE:ACN) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,049 shares of the information technology services provider’s stock after acquiring an additional 4,739 shares during the period. Private Advisor Group LLC’s holdings in Accenture were worth $13,385,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Financial Perspectives Inc raised its holdings in shares of Accenture by 1,750.0% during the fourth quarter. Financial Perspectives Inc now owns 222 shares of the information technology services provider’s stock worth $78,000 after purchasing an additional 210 shares during the period. Global Retirement Partners LLC raised its stake in Accenture by 2.9% during the fourth quarter. Global Retirement Partners LLC now owns 8,742 shares of the information technology services provider’s stock worth $3,075,000 after acquiring an additional 247 shares during the period. Northcape Wealth Management LLC lifted its holdings in Accenture by 0.6% in the fourth quarter. Northcape Wealth Management LLC now owns 6,032 shares of the information technology services provider’s stock worth $2,122,000 after acquiring an additional 37 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new position in Accenture in the fourth quarter valued at approximately $728,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Accenture during the fourth quarter valued at approximately $1,011,000. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACN. JPMorgan Chase & Co. boosted their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird reissued a “neutral” rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group cut their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Performance

Shares of ACN opened at $385.06 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50 day moving average is $367.37 and its 200-day moving average is $355.77. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The stock has a market capitalization of $240.97 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for 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%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 earnings per share. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the completion of the transaction, the chief executive officer now directly owns 28,866 shares in the company, valued at approximately $10,232,419.68. This trade represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 over the last three months. Insiders own 0.02% of the company’s stock.

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.