Rialto Wealth Management LLC Takes Position in Accenture plc (NYSE:ACN)

Rialto Wealth Management LLC purchased a new position in shares of Accenture plc (NYSE:ACN) during the fourth quarter, Holdings Channel reports. The firm purchased 200 shares of the information technology services provider’s stock, valued at approximately $70,000.

Other large investors also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of Accenture in the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the 4th quarter worth $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 worth $31,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $341.68 on Friday. The company has a market cap of $213.82 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. 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 plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a fifty day simple moving average of $365.74 and a two-hundred day simple moving average of $358.46.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business earned $3.27 EPS. Accenture’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACN. Stifel Nicolaus dropped their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group cut their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. 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 report on Wednesday, January 8th. BMO Capital Markets raised their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction 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 in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is owned by insiders.

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.