Accenture plc (NYSE:ACN) Holdings Raised by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC grew its stake in shares of Accenture plc (NYSE:ACN) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 569 shares of the information technology services provider’s stock after purchasing an additional 34 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Accenture were worth $200,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACN. Signaturefd LLC lifted its stake in Accenture by 3.5% in the 4th quarter. Signaturefd LLC now owns 14,485 shares of the information technology services provider’s stock worth $5,096,000 after acquiring an additional 489 shares in the last quarter. Parallel Advisors LLC lifted its stake in Accenture by 0.6% in the 4th quarter. Parallel Advisors LLC now owns 59,584 shares of the information technology services provider’s stock worth $20,961,000 after acquiring an additional 371 shares in the last quarter. Cibc World Markets Corp lifted its stake in Accenture by 16.0% in the 4th quarter. Cibc World Markets Corp now owns 98,568 shares of the information technology services provider’s stock worth $34,675,000 after acquiring an additional 13,564 shares in the last quarter. SouthState Corp lifted its stake in Accenture by 1.1% in the 4th quarter. SouthState Corp now owns 36,682 shares of the information technology services provider’s stock worth $12,904,000 after acquiring an additional 386 shares in the last quarter. Finally, SlateStone Wealth LLC lifted its stake in Accenture by 1.2% in the 4th quarter. SlateStone Wealth LLC now owns 30,429 shares of the information technology services provider’s stock worth $10,705,000 after acquiring an additional 361 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

ACN opened at $318.28 on Monday. The stock’s 50 day moving average price is $363.01 and its two-hundred day moving average price is $358.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm has a market capitalization of $199.17 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the company earned $3.27 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACN shares. Jefferies Financial Group reduced 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. 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. Piper Sandler dropped their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $387.52.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value 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. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

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.