Centricity Wealth Management LLC Invests $63,000 in Accenture plc (NYSE:ACN)

Centricity Wealth Management LLC acquired a new stake in Accenture plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 179 shares of the information technology services provider’s stock, valued at approximately $63,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after acquiring an additional 363,401 shares during the last quarter. McAdam LLC lifted its stake in shares of Accenture by 8.5% in the 3rd quarter. McAdam LLC now owns 1,248 shares of the information technology services provider’s stock valued at $441,000 after purchasing an additional 98 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after purchasing an additional 509,011 shares during the period. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Accenture during the 3rd quarter worth about $218,000. Finally, Assenagon Asset Management S.A. lifted its position in Accenture by 4.7% in the third quarter. Assenagon Asset Management S.A. now owns 25,853 shares of the information technology services provider’s stock valued at $9,139,000 after buying an additional 1,160 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACN. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, the chief executive officer now owns 11,858 shares of the company’s stock, 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 owned by corporate insiders.

Accenture Stock Performance

Shares of ACN stock opened at $364.35 on Friday. The company has a market cap of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. The firm has a fifty day moving average price of $367.48 and a 200 day moving average price of $356.12. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.27 EPS. Sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.