Sound View Wealth Advisors Group LLC Grows Position in Accenture plc (NYSE:ACN)

Sound View Wealth Advisors Group LLC grew its stake in Accenture plc (NYSE:ACN) by 16.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,610 shares of the information technology services provider’s stock after buying an additional 229 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Accenture were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% during 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 worth $1,941,219,000 after acquiring an additional 4,345,039 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Accenture in the fourth quarter worth $666,495,000. Swedbank AB raised its position in shares of Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Accenture by 51,837.3% during the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after buying an additional 858,944 shares in the last quarter. Finally, Amundi increased its stake in Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after buying an additional 826,038 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s 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 completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. 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 research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $388.96.

Accenture Trading Down 0.0 %

ACN stock opened at $341.68 on Monday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The stock has a market capitalization of $213.82 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $365.74 and its two-hundred day simple moving average is $358.64.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the company posted $3.27 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 12.73 earnings per share for the current 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.