Atria Investments Inc Grows Position in Accenture plc (NYSE:ACN)

Atria Investments Inc boosted its stake in shares of Accenture plc (NYSE:ACN) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 78,450 shares of the information technology services provider’s stock after acquiring an additional 3,152 shares during the quarter. Atria Investments Inc’s holdings in Accenture were worth $27,598,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Morse Asset Management Inc acquired a new position in Accenture in the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter valued at $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 valued at $31,000 after purchasing an additional 34 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Up 0.2 %

Shares of ACN opened at $345.84 on Wednesday. The stock’s 50-day moving average is $366.68 and its two-hundred day moving average is $358.37. The stock has a market cap of $216.42 billion, a PE ratio of 29.01, a P/E/G 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. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the company earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Activity

In other Accenture news, 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 sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the firm’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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ACN shares. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Eight investment 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 has an average rating of “Moderate Buy” and an average price target of $388.96.

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.