Lake Street Advisors Group LLC Buys 159 Shares of Accenture plc (NYSE:ACN)

Lake Street Advisors Group LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,454 shares of the information technology services provider’s stock after acquiring an additional 159 shares during the period. Lake Street Advisors Group LLC’s holdings in Accenture were worth $3,678,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. raised 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 acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the third quarter valued at $30,000. POM Investment Strategies LLC grew its position 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 valued at $31,000 after acquiring an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Accenture during the 4th quarter worth about $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. BMO Capital Markets upped their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

Shares of NYSE ACN opened at $363.22 on Wednesday. The stock has a market capitalization of $227.30 billion, a PE ratio of 30.47, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The business has a fifty day moving average price of $367.73 and a two-hundred day moving average price of $357.32.

Accenture (NYSE:ACN) last posted 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 net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 earnings per share. Accenture’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following 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. In the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

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.