SRN Advisors LLC Increases Stake in Accenture plc (NYSE:ACN)

SRN Advisors LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,642 shares of the information technology services provider’s stock after buying an additional 625 shares during the period. Accenture accounts for approximately 2.1% of SRN Advisors LLC’s holdings, making the stock its 7th biggest holding. SRN Advisors LLC’s holdings in Accenture were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Baldwin Wealth Partners LLC MA raised its holdings in Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares during the last quarter. Davidson Trust Co. raised its stake in shares of Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC lifted its holdings in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares during the period. MQS Management LLC bought a new position in Accenture in the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC raised its position in shares of Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ACN. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. 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. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a report on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Insider Transactions at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $358.32 on Thursday. The firm has a market cap of $224.23 billion, a PE ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company’s fifty day simple moving average is $367.94 and its 200-day simple moving average is $357.33. 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 released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.27 earnings per share. Equities research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal 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.