Wealthfront Advisers LLC Acquires 5,569 Shares of Accenture plc (NYSE:ACN)

Wealthfront Advisers LLC lifted its holdings in Accenture plc (NYSE:ACN) by 11.4% during the 4th quarter, HoldingsChannel reports. The fund owned 54,248 shares of the information technology services provider’s stock after acquiring an additional 5,569 shares during the quarter. Wealthfront Advisers LLC’s holdings in Accenture were worth $19,084,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. grew its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the third quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture in the fourth quarter worth approximately $30,000. Finally, POM Investment Strategies LLC lifted its holdings in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted 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. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group lowered 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. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Price Performance

Shares of NYSE:ACN opened at $327.79 on Wednesday. The stock has a market capitalization of $205.13 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. 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 $364.92 and its 200-day moving average price is $358.63. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

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

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. 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.