Accenture plc (NYSE:ACN) Stake Boosted by Xponance Inc.

Xponance Inc. grew its stake in shares of Accenture plc (NYSE:ACN) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,765 shares of the information technology services provider’s stock after acquiring an additional 7,769 shares during the period. Xponance Inc.’s holdings in Accenture were worth $34,393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the 3rd quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture during the 4th quarter worth $30,000. Finally, POM Investment Strategies LLC lifted 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 worth $31,000 after acquiring an additional 34 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research raised 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. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley reduced their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.04.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Trading Up 2.3 %

Shares of NYSE ACN opened at $326.25 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. 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 company’s fifty day moving average is $362.51 and its 200-day moving average is $358.14. The stock has a market cap of $204.16 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued 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 business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period last year, the business posted $3.27 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that Accenture plc will post 12.73 EPS for the current year.

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.