SVB Wealth LLC Acquires New Stake in Accenture plc (NYSE:ACN)

SVB Wealth LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 78,545 shares of the information technology services provider’s stock, valued at approximately $27,631,000. Accenture accounts for approximately 0.5% of SVB Wealth LLC’s investment portfolio, making the stock its 26th biggest holding.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ACN shares. Jefferies Financial Group decreased their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley increased their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $388.96.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of the company’s 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’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 sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last three months. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Shares of NYSE:ACN opened at $348.28 on Friday. The firm has a fifty day simple moving average of $367.28 and a two-hundred day simple moving average of $357.56. 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 stock has a market capitalization of $217.95 billion, a P/E ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last issued 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. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.27 earnings per share. On average, analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.