Northcape Wealth Management LLC Purchases 37 Shares of Accenture plc (NYSE:ACN)

Northcape Wealth Management LLC lifted its holdings in Accenture plc (NYSE:ACN) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 6,032 shares of the information technology services provider’s stock after acquiring an additional 37 shares during the quarter. Northcape Wealth Management LLC’s holdings in Accenture were worth $2,122,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ACN. Morse Asset Management Inc bought a new stake in shares of Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the 3rd quarter worth about $30,000. POM Investment Strategies LLC raised its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Accenture by 607.1% in 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 purchasing an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley raised their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. UBS Group boosted their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Buying and Selling

In related news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % 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 1,487 shares of Accenture 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 completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Performance

Shares of ACN opened at $387.12 on Wednesday. The firm’s 50 day moving average price is $366.33 and its two-hundred day moving average price is $355.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm has a market cap of $242.26 billion, a P/E ratio of 32.48, a PEG ratio of 3.44 and a beta of 1.24.

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 analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the business earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

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.