Prosperitas Financial LLC Increases Stock Position in Accenture plc (NYSE:ACN)

Prosperitas Financial LLC lifted its stake in Accenture plc (NYSE:ACN) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,835 shares of the information technology services provider’s stock after purchasing an additional 389 shares during the period. Accenture accounts for about 1.4% of Prosperitas Financial LLC’s investment portfolio, making the stock its 26th biggest holding. Prosperitas Financial LLC’s holdings in Accenture were worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Accenture by 378.9% during 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 acquiring an additional 4,345,039 shares during the period. Swedbank AB lifted its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC lifted its position in Accenture by 51,837.3% during the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after acquiring an additional 858,944 shares during the period. Assenagon Asset Management S.A. lifted its position in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after acquiring an additional 689,366 shares during the period. Finally, Holocene Advisors LP purchased a new position in Accenture during the 3rd quarter valued at about $204,895,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Shares of NYSE ACN opened at $356.96 on Friday. The firm has a 50 day moving average of $367.64 and a 200 day moving average of $357.33. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm 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. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last posted 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. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s 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. On average, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Robert W. Baird restated a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. Finally, UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

About Accenture

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.