Crown Wealth Group LLC Acquires New Holdings in Accenture plc (NYSE:ACN)

Crown Wealth Group LLC purchased a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 569 shares of the information technology services provider’s stock, valued at approximately $200,000.

A number of other hedge funds also recently made changes to their positions in the business. Morse Asset Management Inc acquired a new position in Accenture during the 3rd quarter worth $25,000. FPC Investment Advisory Inc. lifted its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the 3rd quarter valued at about $30,000. POM Investment Strategies LLC raised its position 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 buying an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter worth approximately $34,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % 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 ninety days. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Eight investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Trading Down 1.3 %

Accenture stock opened at $358.32 on Thursday. 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 12 month low of $278.69 and a 12 month high of $398.35. The company’s fifty day simple moving average is $367.94 and its 200-day simple moving average is $357.33. The stock has a market cap of $224.23 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24.

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

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.