Empower Advisory Group LLC Grows Stake in Accenture plc (NYSE:ACN)

Empower Advisory Group LLC raised its stake in Accenture plc (NYSE:ACN) by 1.6% during the fourth quarter, HoldingsChannel reports. The fund owned 4,199 shares of the information technology services provider’s stock after buying an additional 65 shares during the period. Empower Advisory Group LLC’s holdings in Accenture were worth $1,477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter valued at $25,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture during the third quarter valued at $30,000. POM Investment Strategies LLC boosted its position in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ACN. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 8th. Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased 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, Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Stock Down 0.2 %

Shares of ACN opened at $387.12 on Wednesday. The business’s 50 day moving average is $365.85 and its 200 day moving average is $354.87. The company has a market capitalization of $242.26 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 EPS. Research analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now 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 can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture 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 completion of the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last quarter. 0.02% of the stock is owned by corporate insiders.

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.