Clearstead Trust LLC Has $1.06 Million Holdings in Accenture plc (NYSE:ACN)

Clearstead Trust LLC boosted its stake in Accenture plc (NYSE:ACN) by 1,014.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,021 shares of the information technology services provider’s stock after purchasing an additional 2,750 shares during the quarter. Clearstead Trust LLC’s holdings in Accenture were worth $1,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Newbridge Financial Services Group Inc. increased its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the last quarter. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. Tradition Wealth Management LLC increased its holdings in Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after acquiring an additional 29 shares during the last quarter. New England Professional Planning Group Inc. increased its holdings in Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in Accenture by 0.3% in the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $318.28 on Friday. The business has a 50 day moving average of $363.01 and a 200 day moving average of $357.97. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. 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 released its 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 company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.27 EPS. On average, sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now owns 28,866 shares in the company, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the subject of several recent research reports. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reduced their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Morgan Stanley lifted their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $387.52.

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.