Purkiss Capital Advisors LLC Buys New Position in Accenture plc (NYSE:ACN)

Purkiss Capital Advisors LLC bought a new stake in shares of Accenture plc (NYSE:ACN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 811 shares of the information technology services provider’s stock, valued at approximately $285,000.

Other hedge funds also recently modified their holdings of the company. Baldwin Wealth Partners LLC MA lifted its position in shares of Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after acquiring an additional 3,883 shares during the period. Davidson Trust Co. lifted its position in shares of Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after acquiring an additional 158 shares during the period. Schrum Private Wealth Management LLC lifted its position 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 acquiring an additional 5,038 shares during the period. MQS Management LLC bought a new stake in shares of Accenture in the 3rd quarter worth approximately $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after acquiring an additional 14,724 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % 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 worth $8,316,190 in the last three months. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent research reports. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group dropped their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Stifel Nicolaus dropped their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 2.4 %

NYSE ACN opened at $348.28 on Friday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $217.95 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The stock has a fifty day moving average of $367.28 and a 200-day moving average of $357.83.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. 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 company earned $3.27 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast 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.