Dahring Cusmano LLC Takes Position in Accenture plc (NYSE:ACN)

Dahring Cusmano LLC bought a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 804 shares of the information technology services provider’s stock, valued at approximately $283,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter valued at approximately $30,000. POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% in 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. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE ACN opened at $364.35 on Friday. The company has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The stock has a fifty day simple moving average of $367.48 and a 200 day simple moving average of $356.12. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings data 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. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.27 earnings per share. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of the 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 approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last three months. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACN. JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.