Fortress Financial Group LLC Acquires Shares of 573 Accenture plc (NYSE:ACN)

Fortress Financial Group LLC bought a new position in Accenture plc (NYSE:ACN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 573 shares of the information technology services provider’s stock, valued at approximately $202,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after purchasing an additional 56,937 shares in the last quarter. Swedbank AB lifted its stake in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Accenture by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after acquiring an additional 28,491 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Down 0.4 %

Accenture stock opened at $356.96 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s fifty day moving average is $367.64 and its 200 day moving average is $357.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $223.38 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. UBS Group boosted 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, Piper Sandler lifted their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $388.96.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Company 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.