GAM Holding AG Makes New Investment in Accenture plc (NYSE:ACN)

GAM Holding AG purchased a new position in shares of Accenture plc (NYSE:ACN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,020 shares of the information technology services provider’s stock, valued at approximately $1,414,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACN. Morse Asset Management Inc bought a new position in shares of Accenture in the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter worth $30,000. POM Investment Strategies LLC lifted its holdings in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the 4th quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by insiders.

Accenture Trading Down 0.2 %

Shares of ACN opened at $387.12 on Wednesday. The business has a 50-day moving average of $366.33 and a 200 day moving average of $355.32. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a market cap of $242.26 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm posted $3.27 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent research reports. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.