Schrum Private Wealth Management LLC Has $2.07 Million Holdings in Accenture plc (NYSE:ACN)

Schrum Private Wealth Management LLC trimmed its position in Accenture plc (NYSE:ACN) by 48.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,890 shares of the information technology services provider’s stock after selling 5,558 shares during the quarter. Accenture makes up 1.8% of Schrum Private Wealth Management LLC’s holdings, making the stock its 12th largest position. Schrum Private Wealth Management LLC’s holdings in Accenture were worth $2,072,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Vestmark Advisory Solutions Inc. grew its stake in shares of Accenture by 8.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 8,796 shares of the information technology services provider’s stock valued at $3,094,000 after acquiring an additional 694 shares in the last quarter. Freestone Capital Holdings LLC increased its position in Accenture by 1.2% during the 4th quarter. Freestone Capital Holdings LLC now owns 40,722 shares of the information technology services provider’s stock worth $14,326,000 after purchasing an additional 463 shares in the last quarter. Ethos Financial Group LLC lifted its stake in shares of Accenture by 3.5% in the 4th quarter. Ethos Financial Group LLC now owns 1,470 shares of the information technology services provider’s stock valued at $520,000 after acquiring an additional 50 shares during the last quarter. Townsend Asset Management Corp NC ADV boosted its stake in shares of Accenture by 2.4% during the fourth quarter. Townsend Asset Management Corp NC ADV now owns 8,844 shares of the information technology services provider’s stock valued at $3,111,000 after purchasing an additional 210 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Accenture in the 4th quarter valued at approximately $666,495,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Up 0.7 %

Shares of Accenture stock opened at $348.27 on Thursday. The stock has a market capitalization of $217.94 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s 50-day simple moving average is $366.41 and its 200 day simple moving average is $358.30. Accenture plc has a 52-week low of $278.69 and a 52-week 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 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $3.27 earnings per share. As a group, research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 trade represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

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.