Snider Financial Group Acquires Shares of 734 Accenture plc (NYSE:ACN)

Snider Financial Group purchased a new position in Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 734 shares of the information technology services provider’s stock, valued at approximately $258,000.

Several other large investors also recently bought and sold shares of ACN. Baldwin Wealth Partners LLC MA increased its holdings in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after purchasing an additional 3,883 shares during the last quarter. Davidson Trust Co. grew its holdings in shares of Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the period. Schrum Private Wealth Management LLC raised its stake in Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after purchasing an additional 5,038 shares during the period. MQS Management LLC acquired a new position in Accenture in the 3rd quarter valued at about $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. Piper Sandler increased their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. BMO Capital Markets boosted their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. UBS Group lifted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Morgan Stanley upped their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Performance

Shares of Accenture stock opened at $345.84 on Wednesday. The stock has a market capitalization of $216.42 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.23 and a beta of 1.24. The firm’s fifty day simple moving average is $366.68 and its 200-day simple moving average is $358.37. 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 plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last announced 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. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.27 earnings per share. As a group, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

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.