JPL Wealth Management LLC Takes $3.70 Million Position in Accenture plc (NYSE:ACN)

JPL Wealth Management LLC purchased a new stake in Accenture plc (NYSE:ACN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,528 shares of the information technology services provider’s stock, valued at approximately $3,704,000.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after acquiring an additional 363,401 shares in the last quarter. Entropy Technologies LP bought a new stake in Accenture during the 3rd quarter valued at $745,000. Harbour Investments Inc. increased its stake in Accenture by 14.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,143 shares of the information technology services provider’s stock valued at $404,000 after purchasing an additional 141 shares in the last quarter. Victory Capital Management Inc. increased its stake in Accenture by 8.9% during the 3rd quarter. Victory Capital Management Inc. now owns 375,945 shares of the information technology services provider’s stock valued at $132,889,000 after purchasing an additional 30,725 shares in the last quarter. Finally, Bancreek Capital Management LP increased its stake in Accenture by 11.5% during the 3rd quarter. Bancreek Capital Management LP now owns 20,529 shares of the information technology services provider’s stock valued at $7,257,000 after purchasing an additional 2,122 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ACN shares. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. BMO Capital Markets upped their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Stifel Nicolaus decreased their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Morgan Stanley increased 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. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Trading Down 1.1 %

Shares of NYSE:ACN opened at $324.25 on Thursday. The stock has a market capitalization of $202.91 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s 50-day simple moving average is $364.36 and its two-hundred day simple moving average is $358.39. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the firm posted $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that Accenture plc will post 12.73 EPS for the current year.

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.