Accenture plc (NYSE:ACN) Holdings Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Accenture plc (NYSE:ACN) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 269,689 shares of the information technology services provider’s stock after purchasing an additional 6,309 shares during the period. King Luther Capital Management Corp’s holdings in Accenture were worth $94,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. grew its holdings in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture in the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of Accenture stock opened at $335.34 on Tuesday. 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 has a market capitalization of $209.85 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm’s 50-day moving average price is $365.40 and its two-hundred day moving average price is $358.67.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. Accenture’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ACN shares. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Morgan Stanley boosted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Wolfe Research raised 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 report on Wednesday, January 8th. UBS Group boosted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus cut their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the transaction, the chief executive officer now directly owns 28,866 shares in the company, valued at $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction 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 owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.