VisionPoint Advisory Group LLC Purchases Shares of 211 Accenture plc (NYSE:ACN)

VisionPoint Advisory Group LLC acquired a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 211 shares of the information technology services provider’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. Morse Asset Management Inc purchased a new stake in Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the third quarter worth approximately $30,000. POM Investment Strategies LLC grew 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 purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Accenture during the fourth quarter worth approximately $34,000. Finally, Berbice Capital Management LLC purchased a new position in Accenture during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Accenture Price Performance

Shares of NYSE ACN opened at $364.35 on Friday. The business has a 50 day moving average price of $367.48 and a two-hundred day moving average price of $356.12. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a market cap of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. 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 results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the firm earned $3.27 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Jefferies Financial Group dropped their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

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.