Crown Wealth Group LLC Takes $200,000 Position in Accenture plc (NYSE:ACN)

Crown Wealth Group LLC acquired a new position in Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 569 shares of the information technology services provider’s stock, valued at approximately $200,000.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Accenture by 131.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,251 shares of the information technology services provider’s stock worth $796,000 after purchasing an additional 1,277 shares during the last quarter. Fortitude Family Office LLC boosted its position in Accenture by 57.2% during the third quarter. Fortitude Family Office LLC now owns 316 shares of the information technology services provider’s stock valued at $112,000 after purchasing an additional 115 shares in the last quarter. Jacobsen Capital Management grew its stake in Accenture by 41.5% in the third quarter. Jacobsen Capital Management now owns 935 shares of the information technology services provider’s stock valued at $331,000 after purchasing an additional 274 shares during the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in Accenture by 9.2% in the third quarter. Childress Capital Advisors LLC now owns 1,679 shares of the information technology services provider’s stock worth $594,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s 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 transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last ninety days. 0.02% of the stock is owned by insiders.

Accenture Trading Down 1.3 %

ACN opened at $358.32 on Thursday. The stock has a market capitalization of $224.23 billion, a PE ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm’s fifty day moving average price is $367.94 and its 200 day moving average price is $357.33.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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. 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 analyst estimates of $17.15 billion. During the same period in the previous year, the company earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Piper Sandler upped their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. UBS Group raised their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $388.96.

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.