Wealth Enhancement Advisory Services LLC Has $74.36 Million Stock Position in Accenture PLC (NYSE:ACN)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,295 shares of the information technology services provider's stock after buying an additional 9,689 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Accenture were worth $74,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACN. Visionary Wealth Advisors grew its stake in Accenture by 3.5% in the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares during the period. Vivaldi Capital Management LP grew its stake in Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after purchasing an additional 27 shares during the period. FPC Investment Advisory Inc. grew its stake 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 purchasing an additional 28 shares during the period. New England Professional Planning Group Inc. grew its stake in Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock valued at $230,000 after purchasing an additional 29 shares during the period. Finally, Nemes Rush Group LLC grew its stake in shares of Accenture by 7.5% during the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock worth $147,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Price Performance

Shares of Accenture stock opened at $306.11 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $191.72 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.09 and a beta of 1.33. The business's 50-day moving average price is $306.94 and its 200-day moving average price is $334.32. Accenture PLC has a 12 month low of $275.01 and a 12 month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.49% and a net margin of 11.43%. The company's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.77 EPS. Sell-side analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares in the company, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Accenture to $355.00 and gave the stock a "hold" rating in a research note on Wednesday, March 26th. UBS Group reiterated a "buy" rating and set a $395.00 price target (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Stifel Nicolaus cut their price target on Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Barclays cut their price target on Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Piper Sandler cut their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $380.00.

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.

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