Gallacher Capital Management LLC Takes $239,000 Position in Accenture plc (NYSE:ACN)

Gallacher Capital Management LLC purchased a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 678 shares of the information technology services provider’s stock, valued at approximately $239,000.

Several other large investors have also modified their holdings of the business. Newbridge Financial Services Group Inc. grew its position in shares of Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the last quarter. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the period. Tradition Wealth Management LLC lifted its stake in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the period. New England Professional Planning Group Inc. lifted its stake in shares of Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after buying an additional 29 shares during the period. Finally, TCW Group Inc. lifted its stake in shares of Accenture by 0.3% during the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after buying an additional 30 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $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 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $318.28 on Monday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. 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 firm’s fifty day moving average price is $363.01 and its 200 day moving average price is $358.24.

Accenture (NYSE:ACN) last released its quarterly 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 net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the firm posted $3.27 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ACN. Stifel Nicolaus reduced their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. 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 research note on Friday, December 20th. UBS Group upped their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $387.52.

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.