Synergy Financial Group LTD Raises Stake in Accenture plc (NYSE:ACN)

Synergy Financial Group LTD lifted its stake in shares of Accenture plc (NYSE:ACN) by 23.5% during the 4th quarter, Holdings Channel reports. The fund owned 1,191 shares of the information technology services provider’s stock after buying an additional 227 shares during the quarter. Synergy Financial Group LTD’s holdings in Accenture were worth $419,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new stake in Accenture in the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. grew its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% during the 4th 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. Finally, Retirement Wealth Solutions LLC purchased a new stake in Accenture during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ACN shares. 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 report on Friday, January 31st. UBS Group upped their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Performance

Shares of ACN opened at $363.66 on Tuesday. The company’s 50 day simple moving average is $367.61 and its 200-day simple moving average is $356.99. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm has a market cap of $227.58 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings data 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the business posted $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % 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. Corporate insiders own 0.02% of the company’s stock.

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.