Crew Capital Management Ltd. Raises Position in Accenture plc (NYSE:ACN)

Crew Capital Management Ltd. increased its holdings in Accenture plc (NYSE:ACN) by 12.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,952 shares of the information technology services provider’s stock after buying an additional 450 shares during the period. Accenture accounts for approximately 1.2% of Crew Capital Management Ltd.’s portfolio, making the stock its 15th largest holding. Crew Capital Management Ltd.’s holdings in Accenture were worth $1,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Accenture in the third quarter worth $25,000. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture during the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the fourth quarter valued at about $30,000. Finally, POM Investment Strategies LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $10,232,419.68. This represents a 7.96 % decrease in their position. 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 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Stifel Nicolaus cut their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group cut their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. Finally, UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Price Performance

Shares of NYSE ACN opened at $345.84 on Wednesday. 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 plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm has a market cap of $216.42 billion, a P/E ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.24. The company has a 50 day moving average of $366.68 and a 200 day moving average of $358.37.

Accenture (NYSE:ACN) last posted its earnings results 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 business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the firm posted $3.27 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

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.