Dash Acquisitions Inc. Purchases 1,144 Shares of Accenture plc (NYSE:ACN)

Dash Acquisitions Inc. raised its position in Accenture plc (NYSE:ACN) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,040 shares of the information technology services provider’s stock after acquiring an additional 1,144 shares during the quarter. Accenture makes up 3.8% of Dash Acquisitions Inc.’s investment portfolio, making the stock its 11th largest position. Dash Acquisitions Inc.’s holdings in Accenture were worth $17,043,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ACN. Masso Torrence Wealth Management Inc. lifted its stake in Accenture by 2.0% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after acquiring an additional 28 shares during the period. BSW Wealth Partners lifted its position in shares of Accenture by 0.7% in the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after buying an additional 28 shares during the period. Tradition Wealth Management LLC raised its stake in Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after buying an additional 29 shares in the last quarter. Finally, TCW Group Inc. increased its holdings in shares of Accenture by 0.3% in the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after acquiring an additional 30 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Up 0.8 %

Shares of Accenture stock opened at $390.72 on Thursday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm’s 50-day moving average price is $366.87 and its 200 day moving average price is $355.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $244.51 billion, a PE ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the business earned $3.27 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. UBS Group boosted their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Piper Sandler raised their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Wolfe Research upgraded 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 analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % 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 valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

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.