Los Angeles Capital Management LLC Boosts Stake in Accenture plc (NYSE:ACN)

Los Angeles Capital Management LLC lifted its holdings in shares of Accenture plc (NYSE:ACN) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,347 shares of the information technology services provider’s stock after buying an additional 222 shares during the period. Los Angeles Capital Management LLC’s holdings in Accenture were worth $1,177,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Baldwin Wealth Partners LLC MA grew its stake in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after acquiring an additional 3,883 shares during the period. Davidson Trust Co. lifted its position in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the period. Schrum Private Wealth Management LLC lifted its position in Accenture by 78.6% during 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 purchasing an additional 5,038 shares during the period. MQS Management LLC bought a new position in Accenture during the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its position in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after purchasing an additional 14,724 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 2.4 %

Shares of ACN stock opened at $348.28 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $367.28 and its 200-day moving average price is $357.83. The stock has a market capitalization of $217.95 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued 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 firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the firm posted $3.27 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Insider Transactions at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the company’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 sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by insiders.

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.