Dahring Cusmano LLC Takes Position in Accenture plc (NYSE:ACN)

Dahring Cusmano LLC bought a new stake in Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 804 shares of the information technology services provider’s stock, valued at approximately $283,000.

Several other large investors also recently made changes to their positions in the company. Masso Torrence Wealth Management Inc. grew its stake in shares of Accenture by 2.0% in the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after buying an additional 28 shares during the period. BSW Wealth Partners grew its stake 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 valued at $1,441,000 after buying an additional 28 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares in the last quarter. Tradition Wealth Management LLC lifted its position in Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after acquiring an additional 29 shares in the last quarter. Finally, TCW Group Inc. lifted its position in 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 in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACN. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. BMO Capital Markets raised their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley raised their price target on shares of 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 raised their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Trading Down 5.3 %

Shares of ACN stock opened at $364.35 on Friday. The company has a 50 day moving average of $367.48 and a 200-day moving average of $356.12. 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 plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm has a market cap of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. 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 business earned $3.27 EPS. Accenture’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now directly owns 20,526 shares in the company, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 375 shares of the business’s 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

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.