Axxcess Wealth Management LLC Acquires 89 Shares of Accenture plc (NYSE:ACN)

Axxcess Wealth Management LLC grew its holdings in Accenture plc (NYSE:ACN) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 20,820 shares of the information technology services provider’s stock after buying an additional 89 shares during the period. Axxcess Wealth Management LLC’s holdings in Accenture were worth $7,324,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC lifted its position in Accenture by 64.2% during 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 during the period. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, 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. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research report on Monday. Jefferies Financial Group lowered their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $388.04.

Accenture Stock Performance

NYSE:ACN opened at $326.25 on Tuesday. The company has a market capitalization of $204.16 billion, a PE ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a 50 day simple moving average of $362.51 and a two-hundred day simple moving average of $358.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current 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.