VSM Wealth Advisory LLC Invests $106,000 in Accenture plc (NYSE:ACN)

VSM Wealth Advisory LLC bought a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 302 shares of the information technology services provider’s stock, valued at approximately $106,000.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after acquiring an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after buying an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Accenture by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock worth $1,746,455,000 after buying an additional 140,726 shares during the period. Amundi grew its holdings in shares of Accenture by 27.9% during the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after buying an additional 826,038 shares during the last quarter. Finally, Swedbank AB increased its position in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the sale, the general counsel now owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This represents a 18.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $324.52 on Thursday. The company has a market cap of $203.08 billion, a P/E ratio of 27.22, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company’s 50-day moving average price is $361.19 and its 200-day moving average price is $357.78.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ACN. Piper Sandler dropped their price target on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. UBS Group increased their price objective 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. Finally, StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $384.45.

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.