Parcion Private Wealth LLC Boosts Holdings in Accenture plc (NYSE:ACN)

Parcion Private Wealth LLC grew its position in shares of Accenture plc (NYSE:ACN) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,452 shares of the information technology services provider’s stock after purchasing an additional 400 shares during the period. Parcion Private Wealth LLC’s holdings in Accenture were worth $6,491,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter worth $30,000. POM Investment Strategies LLC increased its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the fourth quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Accenture by 607.1% in the third 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 during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.8 %

Shares of NYSE ACN opened at $390.72 on Thursday. The stock has a market cap of $244.51 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 3.44 and a beta of 1.24. The business has a 50 day simple moving average of $366.87 and a 200 day simple moving average of $355.57. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.27 EPS. On average, research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ACN shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Piper Sandler boosted their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were 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 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 disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

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.