Accenture plc (NYSE:ACN) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC raised its holdings in Accenture plc (NYSE:ACN) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 59,584 shares of the information technology services provider’s stock after purchasing an additional 371 shares during the period. Parallel Advisors LLC’s holdings in Accenture were worth $20,961,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. grew its stake in Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the last quarter. FPC Investment Advisory Inc. grew its position in shares of Accenture by 62.2% in 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 during the last quarter. Tradition Wealth Management LLC increased its stake in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares in the last quarter. New England Professional Planning Group Inc. lifted its stake in Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after buying an additional 29 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after buying an additional 30 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, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACN. BMO Capital Markets upped their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus decreased their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.52.

Accenture Stock Up 0.4 %

Shares of Accenture stock opened at $318.28 on Monday. The firm has a market cap of $199.17 billion, a P/E ratio of 26.70, a P/E/G ratio of 3.23 and a beta of 1.24. The business has a 50-day moving average price of $363.01 and a 200 day moving average price of $358.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last released 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 firm 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 company posted $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal 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.