Accenture plc (NYSE:ACN) Shares Bought by LGT Group Foundation

LGT Group Foundation lifted its holdings in shares of Accenture plc (NYSE:ACN) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 431,862 shares of the information technology services provider’s stock after buying an additional 28,317 shares during the period. Accenture comprises 2.4% of LGT Group Foundation’s holdings, making the stock its 10th largest position. LGT Group Foundation owned approximately 0.07% of Accenture worth $151,925,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. raised its holdings in shares of Accenture by 62.2% in the 4th 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. bought a new stake in shares of Accenture in the 3rd quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $30,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% in the 4th 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 during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of NYSE:ACN opened at $348.28 on Monday. The company’s 50 day simple moving average is $367.28 and its 200 day simple moving average is $358.10. 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. 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 1 year low of $278.69 and a 1 year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for 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 firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $3.27 earnings per share. As a group, research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $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 valued at $8,316,190. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

ACN has been the topic of a number of research analyst reports. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. BMO Capital Markets increased their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, UBS Group increased their price target on shares of Accenture from $450.00 to $455.00 and gave the company 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 presently has an average rating of “Moderate Buy” and an average price target of $388.96.

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.