Cabot Wealth Management Inc. Has $11.43 Million Holdings in Accenture plc (NYSE:ACN)

Cabot Wealth Management Inc. lifted its position in shares of Accenture plc (NYSE:ACN) by 3.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 32,486 shares of the information technology services provider’s stock after buying an additional 1,123 shares during the quarter. Accenture accounts for 1.5% of Cabot Wealth Management Inc.’s portfolio, making the stock its 28th biggest holding. Cabot Wealth Management Inc.’s holdings in Accenture were worth $11,428,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MONECO Advisors LLC boosted its position in shares of Accenture by 26.9% during the 4th quarter. MONECO Advisors LLC now owns 1,713 shares of the information technology services provider’s stock worth $603,000 after acquiring an additional 363 shares in the last quarter. Howard Capital Management Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at $1,531,000. New England Professional Planning Group Inc. raised its stake in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares in the last quarter. Townsend & Associates Inc lifted its stake in Accenture by 2.6% in the 4th quarter. Townsend & Associates Inc now owns 39,318 shares of the information technology services provider’s stock valued at $14,014,000 after purchasing an additional 982 shares during the last quarter. Finally, FPC Investment Advisory Inc. increased its holdings in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACN shares. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. BMO Capital Markets boosted their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Down 5.3 %

Accenture stock opened at $364.35 on Friday. 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 stock has a market capitalization of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The business has a 50 day simple moving average of $367.48 and a 200-day simple moving average of $356.38.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $3.27 EPS. On average, analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now owns 5,149 shares of the company’s stock, valued at $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 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is owned by insiders.

About Accenture

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.