Halbert Hargrove Global Advisors LLC Takes $51,000 Position in Accenture plc (NYSE:ACN)

Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 144 shares of the information technology services provider’s stock, valued at approximately $51,000.

Other institutional investors have also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA increased its stake in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. grew its stake in Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC grew its stake in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares during the last quarter. MQS Management LLC purchased a new position in Accenture in the third quarter valued at about $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after purchasing an additional 14,724 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ACN shares. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets boosted their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value 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 approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % 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 valued at $8,316,190. 0.02% of the stock is owned by company insiders.

Accenture Trading Down 2.4 %

Accenture stock opened at $348.28 on Friday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company 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 stock has a 50-day moving average price of $367.28 and a 200 day moving average price of $357.83. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last announced its quarterly earnings results 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the company posted $3.27 earnings per share. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Accenture plc will post 12.73 EPS 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.