IHT Wealth Management LLC Purchases 1,762 Shares of Accenture plc (NYSE:ACN)

IHT Wealth Management LLC lifted its position in shares of Accenture plc (NYSE:ACN – Get Rating) by 221.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,558 shares of the information technology services provider’s stock after buying an additional 1,762 shares during the quarter. IHT Wealth Management LLC’s holdings in Accenture were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Bank boosted its position in Accenture by 6.3% during the first quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock valued at $1,001,000 after purchasing an additional 176 shares in the last quarter. Weitz Investment Management Inc. boosted its position in Accenture by 1.3% during the first quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock valued at $30,148,000 after purchasing an additional 1,168 shares in the last quarter. Fund Management at Engine No. 1 LLC bought a new stake in Accenture during the first quarter valued at about $1,805,000. Guardian Wealth Management Inc. boosted its position in Accenture by 0.6% during the first quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock valued at $2,459,000 after purchasing an additional 41 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Accenture by 104.8% during the first quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock valued at $148,871,000 after purchasing an additional 225,943 shares in the last quarter. Institutional investors own 73.97% of the company’s stock.

Accenture Trading Down 1.2 %

Shares of ACN stock opened at $250.00 on Friday. The stock has a 50 day moving average of $273.70 and a 200 day moving average of $275.04. The stock has a market cap of $157.56 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.26 and a beta of 1.25. Accenture plc has a twelve month low of $242.80 and a twelve month high of $345.30.

Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings data on Friday, December 16th. The information technology services provider reported $3.08 EPS for the quarter, beating the consensus estimate of $2.91 by $0.17. Accenture had a return on equity of 31.49% and a net margin of 11.31%. The company had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.58 billion. On average, research analysts predict that Accenture plc will post 11.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACN has been the topic of a number of recent research reports. Wells Fargo & Company assumed coverage on Accenture in a research report on Monday, January 30th. They set an “equal weight” rating and a $289.00 price objective on the stock. Piper Sandler cut Accenture from a “neutral” rating to an “underweight” rating and set a $268.00 price target for the company. in a research note on Monday, December 12th. Robert W. Baird decreased their price target on Accenture from $310.00 to $290.00 and set a “neutral” rating for the company in a research note on Monday, December 19th. JPMorgan Chase & Co. increased their price target on Accenture from $306.00 to $327.00 in a research note on Thursday, December 15th. Finally, Cowen increased their price target on Accenture from $295.00 to $300.00 in a research note on Monday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.50.

Insider Buying and Selling at Accenture

In other Accenture news, General Counsel Joel Unruch sold 556 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $280.53, for a total value of $155,974.68. Following the sale, the general counsel now directly owns 42,991 shares of the company’s stock, valued at $12,060,265.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Paula A. Price sold 750 shares of Accenture stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $258.77, for a total value of $194,077.50. Following the sale, the director now directly owns 6,697 shares of the company’s stock, valued at $1,732,982.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 556 shares of Accenture stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $280.53, for a total value of $155,974.68. Following the completion of the sale, the general counsel now directly owns 42,991 shares in the company, valued at $12,060,265.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,015 shares of company stock valued at $10,884,179. Company insiders own 0.08% of the company’s stock.

Accenture Profile

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.