Avantax Advisory Services Inc. Has $20.21 Million Stock Holdings in Accenture plc (NYSE:ACN)

Avantax Advisory Services Inc. grew its holdings in shares of Accenture plc (NYSE:ACN) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,435 shares of the information technology services provider’s stock after purchasing an additional 775 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Accenture were worth $20,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. raised 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 purchasing an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture during the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the 4th quarter valued at $30,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% during 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 in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture 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 completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Angie Y. Park sold 685 shares of Accenture 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 transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $388.96.

Accenture Price Performance

Shares of Accenture stock opened at $324.25 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day simple moving average is $364.36 and its 200-day simple moving average is $358.39. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm has a market cap of $202.91 billion, a P/E ratio of 27.20, 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 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 analyst estimates of $17.15 billion. During the same period in the previous year, the business earned $3.27 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal 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.