Crestwood Advisors Group LLC Boosts Stock Position in Accenture plc (NYSE:ACN)

Crestwood Advisors Group LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 216,024 shares of the information technology services provider’s stock after acquiring an additional 115 shares during the quarter. Accenture makes up 1.4% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 16th biggest holding. Crestwood Advisors Group LLC’s holdings in Accenture were worth $75,995,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ACN. IFP Advisors Inc increased its stake in Accenture by 1.5% in the fourth quarter. IFP Advisors Inc now owns 10,920 shares of the information technology services provider’s stock valued at $3,841,000 after purchasing an additional 164 shares during the last quarter. Waverton Investment Management Ltd boosted its holdings in shares of Accenture by 76.2% in the 4th quarter. Waverton Investment Management Ltd now owns 1,156 shares of the information technology services provider’s stock valued at $407,000 after buying an additional 500 shares in the last quarter. Roffman Miller Associates Inc. PA grew its position in shares of Accenture by 1.0% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 72,386 shares of the information technology services provider’s stock valued at $25,465,000 after buying an additional 751 shares during the last quarter. Dover Advisors LLC lifted its position in Accenture by 0.9% in the fourth quarter. Dover Advisors LLC now owns 5,513 shares of the information technology services provider’s stock valued at $1,939,000 after acquiring an additional 50 shares during the last quarter. Finally, Conscious Wealth Investments LLC boosted its stake in Accenture by 2.6% in the fourth quarter. Conscious Wealth Investments LLC now owns 7,945 shares of the information technology services provider’s stock valued at $2,801,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACN. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % 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 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $364.35 on Monday. The firm’s fifty day simple moving average is $367.48 and its 200-day simple moving average is $356.65. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.