Global Retirement Partners LLC Boosts Stake in Accenture plc (NYSE:ACN)

Global Retirement Partners LLC increased its stake in Accenture plc (NYSE:ACN) by 2.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,742 shares of the information technology services provider’s stock after buying an additional 247 shares during the period. Global Retirement Partners LLC’s holdings in Accenture were worth $3,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACN. Swedbank AB grew its stake 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 worth $901,967,000 after buying an additional 363,401 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Accenture by 29.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,589 shares of the information technology services provider’s stock worth $7,278,000 after buying an additional 4,734 shares during the last quarter. Segment Wealth Management LLC grew its stake in shares of Accenture by 0.4% in the 3rd quarter. Segment Wealth Management LLC now owns 42,984 shares of the information technology services provider’s stock worth $15,194,000 after buying an additional 157 shares during the last quarter. Blossom Wealth Management grew its stake in shares of Accenture by 27.4% in the 3rd quarter. Blossom Wealth Management now owns 894 shares of the information technology services provider’s stock worth $316,000 after buying an additional 192 shares during the last quarter. Finally, Albert D Mason Inc. bought a new position in Accenture in the 3rd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ACN shares. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 8th. UBS Group upped their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. 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 report on Monday, December 16th. Finally, Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Price Performance

Shares of Accenture stock opened at $390.72 on Thursday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The stock’s fifty day moving average is $366.87 and its 200 day moving average is $355.57. The stock has a market cap of $244.51 billion, a P/E ratio of 32.78, a P/E/G ratio of 3.44 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 issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 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.