VisionPoint Advisory Group LLC Purchases New Position in Accenture plc (NYSE:ACN)

VisionPoint Advisory Group LLC acquired a new position 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 fund acquired 211 shares of the information technology services provider’s stock, valued at approximately $74,000.

Several other large investors have also modified their holdings of the stock. Swedbank AB lifted its holdings in shares of Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after purchasing an additional 363,401 shares during the last quarter. McAdam LLC increased its position in Accenture by 8.5% during the third quarter. McAdam LLC now owns 1,248 shares of the information technology services provider’s stock worth $441,000 after buying an additional 98 shares during the period. International Assets Investment Management LLC lifted its stake in Accenture by 37,788.5% in the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after buying an additional 509,011 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in shares of Accenture during the third quarter worth approximately $218,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Accenture by 4.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 25,853 shares of the information technology services provider’s stock valued at $9,139,000 after acquiring an additional 1,160 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research reports. StockNews.com raised 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 Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Jefferies Financial Group dropped their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. 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 report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Stock Performance

ACN opened at $364.35 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The stock has a market cap of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24. The stock’s 50 day simple moving average is $367.48 and its 200 day simple moving average is $356.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly 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 return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the business posted $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % 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. Corporate insiders own 0.02% of the company’s stock.

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.