Nwam LLC Buys 297 Shares of Accenture plc (NYSE:ACN)

Nwam LLC boosted its stake in Accenture plc (NYSE:ACN) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,492 shares of the information technology services provider’s stock after acquiring an additional 297 shares during the period. Nwam LLC’s holdings in Accenture were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Baldwin Wealth Partners LLC MA increased its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after acquiring an additional 3,883 shares during the last quarter. Davidson Trust Co. increased its position in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC lifted its stake in shares of Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after purchasing an additional 5,038 shares during the period. MQS Management LLC purchased a new position in shares of Accenture in the third quarter worth approximately $1,040,000. Finally, Concurrent Investment Advisors LLC grew its position in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Price Performance

ACN stock opened at $356.96 on Friday. The company has a fifty day simple moving average of $367.64 and a two-hundred day simple moving average of $357.33. Accenture plc has a 52 week low of $278.69 and a 52 week 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 firm has a market capitalization of $223.38 billion, a P/E ratio of 29.95, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.27 earnings per share. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last three months. 0.02% of the stock is owned by company insiders.

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.