Convergence Financial LLC Has $493,000 Holdings in Accenture plc (NYSE:ACN)

Convergence Financial LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 88.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,402 shares of the information technology services provider’s stock after acquiring an additional 659 shares during the quarter. Convergence Financial LLC’s holdings in Accenture were worth $493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its stake in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after acquiring an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after purchasing an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Accenture by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after buying an additional 56,937 shares during the period. Swedbank AB lifted its holdings in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after buying an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp boosted its stake in Accenture by 1.5% in the third quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after acquiring an additional 28,491 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ACN has been the topic of a number of analyst reports. 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 research note on Tuesday, January 21st. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a report on Wednesday, October 30th. UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Price Performance

NYSE ACN opened at $358.32 on Thursday. The company has a market capitalization of $224.23 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 3.23 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 firm’s 50 day moving average is $367.94 and its 200-day moving average is $357.33. The company has a quick ratio of 1.47, a current 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, topping 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 during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the prior year, the business posted $3.27 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.