Lake Street Advisors Group LLC Acquires 159 Shares of Accenture plc (NYSE:ACN)

Lake Street Advisors Group LLC raised its stake in shares of Accenture plc (NYSE:ACN) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,454 shares of the information technology services provider’s stock after purchasing an additional 159 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Accenture were worth $3,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after acquiring an additional 4,345,039 shares in the last quarter. Swedbank AB lifted its holdings in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after buying an additional 689,366 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Accenture during the third quarter worth approximately $204,895,000. Finally, State Street Corp boosted its holdings in shares of Accenture by 1.8% in the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after acquiring an additional 471,792 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACN has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Morgan Stanley increased their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. UBS Group boosted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

Accenture Stock Down 0.2 %

Shares of NYSE:ACN opened at $363.22 on Wednesday. The company has a 50 day moving average price of $367.73 and a two-hundred day moving average price of $357.32. The company has a market capitalization of $227.30 billion, a PE ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 (NYSE:ACN) last issued its quarterly earnings data 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 business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture 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.