Linscomb Wealth Inc. Purchases 404 Shares of Accenture plc (NYSE:ACN)

Linscomb Wealth Inc. boosted its holdings in shares of Accenture plc (NYSE:ACN) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 35,924 shares of the information technology services provider’s stock after purchasing an additional 404 shares during the period. Accenture accounts for approximately 0.6% of Linscomb Wealth Inc.’s portfolio, making the stock its 25th biggest position. Linscomb Wealth Inc.’s holdings in Accenture were worth $12,638,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ACN. State Street Corp lifted its position in Accenture by 1.8% in the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after acquiring an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after purchasing an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Accenture by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after buying an additional 56,937 shares during the period. Swedbank AB grew its holdings in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after buying an additional 1,212,011 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Accenture by 1.5% in the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after buying an additional 28,491 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. UBS Group raised their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Price Performance

Shares of Accenture stock opened at $356.96 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a 50-day simple moving average of $367.64 and a two-hundred day simple moving average of $357.33. The stock has a market capitalization of $223.38 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. 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 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm 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 revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $3.27 EPS. Analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is owned by corporate insiders.

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.