Creative Capital Management Investments LLC Boosts Stake in Accenture plc (NYSE:ACN)

Creative Capital Management Investments LLC boosted its holdings in Accenture plc (NYSE:ACN) by 410.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102 shares of the information technology services provider’s stock after purchasing an additional 82 shares during the period. Creative Capital Management Investments LLC’s holdings in Accenture were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ACN. Buckingham Capital Management Inc. boosted its stake in shares of Accenture by 9.3% during the 4th quarter. Buckingham Capital Management Inc. now owns 25,277 shares of the information technology services provider’s stock valued at $8,892,000 after buying an additional 2,151 shares during the last quarter. Davidson Trust Co. boosted its stake in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 158 shares during the last quarter. BKM Wealth Management LLC grew its holdings in Accenture by 2.8% during the 4th quarter. BKM Wealth Management LLC now owns 8,056 shares of the information technology services provider’s stock worth $2,834,000 after acquiring an additional 220 shares in the last quarter. Kestra Investment Management LLC increased its position in shares of Accenture by 11.1% in the 4th quarter. Kestra Investment Management LLC now owns 8,066 shares of the information technology services provider’s stock worth $2,837,000 after purchasing an additional 809 shares during the last quarter. Finally, GAM Holding AG bought a new position in shares of Accenture during the fourth quarter worth about $1,414,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now directly owns 20,526 shares in the company, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.4 %

Shares of ACN stock opened at $387.99 on Tuesday. 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 stock has a market cap of $242.80 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The business’s fifty day moving average is $365.29 and its 200-day moving average is $354.45. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on ACN shares. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. UBS Group lifted 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. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture 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.