Atlas Legacy Advisors LLC Invests $728,000 in Accenture plc (NYSE:ACN)

Atlas Legacy Advisors LLC acquired a new position in Accenture plc (NYSE:ACN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,069 shares of the information technology services provider’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACN. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture in the 3rd quarter worth $30,000. POM Investment Strategies LLC grew its holdings in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Accenture in the 4th quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN opened at $387.12 on Wednesday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s 50-day moving average price is $366.33 and its two-hundred day moving average price is $355.32. The company has a market capitalization of $242.26 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. 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, 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 company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACN. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price 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.