600 Shares in Accenture plc (NYSE:ACN) Bought by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. acquired a new stake in shares of Accenture plc (NYSE:ACN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 600 shares of the information technology services provider’s stock, valued at approximately $211,000.

Several other institutional investors have also recently made changes to their positions in ACN. Los Angeles Capital Management LLC grew its stake in shares of Accenture by 7.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 3,347 shares of the information technology services provider’s stock valued at $1,177,000 after buying an additional 222 shares during the last quarter. Vaughan David Investments LLC IL grew its position in Accenture by 1.1% in the 4th quarter. Vaughan David Investments LLC IL now owns 134,196 shares of the information technology services provider’s stock valued at $47,209,000 after acquiring an additional 1,458 shares during the last quarter. EdgeRock Capital LLC increased its stake in Accenture by 9.5% in the fourth quarter. EdgeRock Capital LLC now owns 716 shares of the information technology services provider’s stock worth $252,000 after purchasing an additional 62 shares during the period. Synergy Financial Group LTD lifted its position in shares of Accenture by 23.5% during the fourth quarter. Synergy Financial Group LTD now owns 1,191 shares of the information technology services provider’s stock worth $419,000 after purchasing an additional 227 shares during the last quarter. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of Accenture by 2,249.2% in the fourth quarter. Trifecta Capital Advisors LLC now owns 1,386 shares of the information technology services provider’s stock worth $488,000 after purchasing an additional 1,327 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.2 %

Accenture stock opened at $363.22 on Wednesday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The stock has a 50-day moving average price of $367.73 and a 200 day moving average price of $357.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $227.30 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 EPS. Sell-side analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research analyst reports. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. 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. Finally, Morgan Stanley lifted their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Accenture presently 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.