Bryn Mawr Capital Management LLC Acquires 304 Shares of Accenture plc (NYSE:ACN)

Bryn Mawr Capital Management LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,622 shares of the information technology services provider’s stock after purchasing an additional 304 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Accenture were worth $12,531,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in Accenture in the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC raised its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Accenture during the fourth quarter worth about $34,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. 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. 0.02% of the stock is currently owned by insiders.

Accenture Trading Down 0.2 %

NYSE:ACN 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 firm has a 50-day moving average price of $367.73 and a two-hundred day moving average price of $357.32. The firm has a market cap 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. 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 released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the company earned $3.27 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ACN shares. 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 report on Friday, January 31st. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group dropped their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Piper Sandler boosted their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average target price of $387.22.

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.