HMV Wealth Advisors LLC Takes Position in Accenture plc (NYSE:ACN)

HMV Wealth Advisors LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,323 shares of the information technology services provider’s stock, valued at approximately $817,000.

A number of other hedge funds have also recently made changes to their positions in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% in the fourth 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 in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Accenture in the third quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC boosted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is currently owned by insiders.

Accenture Price Performance

Shares of NYSE ACN opened at $318.28 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a 50 day simple moving average of $363.01 and a two-hundred day simple moving average of $357.97. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the firm earned $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on ACN shares. Stifel Nicolaus cut their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. BMO Capital Markets upped their price objective 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. Finally, StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

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.