Accenture plc (NYSE:ACN) Shares Acquired by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 6.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 787 shares of the information technology services provider’s stock after buying an additional 49 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Accenture were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA raised its stake in shares of Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares during the last quarter. Davidson Trust Co. raised its stake in Accenture by 7.4% in the 4th 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. Franklin Street Advisors Inc. NC raised its stake in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after purchasing an additional 22,391 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after purchasing an additional 56,937 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Accenture by 37.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

ACN stock opened at $326.25 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $204.16 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The stock’s 50 day simple moving average is $362.51 and its 200 day simple moving average is $358.14.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.27 EPS. As a group, equities research analysts predict that Accenture plc will post 12.73 EPS for the current year.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last three months. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research note on Friday. 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 research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley dropped their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research note on Monday. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $388.04.

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.