QRG Capital Management Inc. Purchases 8,402 Shares of Accenture plc (NYSE:ACN)

QRG Capital Management Inc. increased its position in shares of Accenture plc (NYSE:ACN) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,777 shares of the information technology services provider’s stock after acquiring an additional 8,402 shares during the quarter. Accenture comprises approximately 0.7% of QRG Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. QRG Capital Management Inc.’s holdings in Accenture were worth $64,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ACN. Baldwin Wealth Partners LLC MA lifted its stake in Accenture by 6.5% in 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 buying an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its stake in Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC lifted its stake in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC bought a new position in Accenture in the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its stake in Accenture by 70.6% in 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 in the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACN. BMO Capital Markets lifted their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group lowered their price objective 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. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Eight investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % 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 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Accenture Trading Down 1.3 %

ACN stock opened at $358.32 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a fifty day moving average price of $367.94 and a two-hundred day moving average price of $357.33. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The stock has a market cap of $224.23 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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 analysts’ expectations of $17.15 billion. During the same period in the previous year, the business posted $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts anticipate 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.