Hopwood Financial Services Inc. Invests $158,000 in Accenture plc (NYSE:ACN)

Hopwood Financial Services Inc. bought a new position in Accenture plc (NYSE:ACN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 450 shares of the information technology services provider’s stock, valued at approximately $158,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACN. Baldwin Wealth Partners LLC MA lifted its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. grew its holdings in shares of Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC raised its position in shares of Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC bought a new position in Accenture during the third quarter valued at $1,040,000. Finally, Franklin Street Advisors Inc. NC lifted its stake in Accenture by 126.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock worth $14,090,000 after purchasing an additional 22,391 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN stock opened at $327.79 on Wednesday. Accenture plc has a one year low of $278.69 and a one year 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. The firm has a market capitalization of $205.13 billion, a PE ratio of 27.50, a P/E/G ratio of 3.23 and a beta of 1.24. The firm has a 50-day moving average of $364.92 and a two-hundred day moving average of $358.63.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 business 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 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. 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 note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Insider Transactions at Accenture

In related news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of Accenture 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 sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Company 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.