IHT Wealth Management LLC Boosts Holdings in Accenture plc (NYSE:ACN)

IHT Wealth Management LLC grew its holdings in shares of Accenture plc (NYSE:ACN – Get Rating) by 221.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,558 shares of the information technology services provider’s stock after acquiring 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.

Several other institutional investors and hedge funds have also recently made changes to their positions in ACN. Tsfg LLC grew its holdings in shares of Accenture by 108.7% in the third quarter. Tsfg LLC now owns 96 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Norwood Financial Corp bought a new position in shares of Accenture in the third quarter worth approximately $32,000. Ten Capital Wealth Advisors LLC grew its holdings in shares of Accenture by 61.8% in the third quarter. Ten Capital Wealth Advisors LLC now owns 123 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Cowa LLC bought a new position in shares of Accenture in the third quarter worth approximately $37,000. Finally, Vienna Asset Management LLC bought a new position in shares of Accenture in the third quarter worth approximately $50,000. Institutional investors own 73.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Accenture in a report on Monday, January 30th. They issued an “equal weight” rating and a $289.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Accenture in a report on Monday, March 13th. Robert W. Baird cut their price target on shares of Accenture from $310.00 to $290.00 and set a “neutral” rating on the stock in a report on Monday, December 19th. Citigroup cut their price target on shares of Accenture from $305.00 to $300.00 in a report on Thursday. Finally, StockNews.com initiated coverage on shares of Accenture in a report on Thursday. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.50.

Insiders Place Their Bets

In other Accenture news, Director Paula A. Price sold 750 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $258.77, for a total value of $194,077.50. Following the completion of the transaction, the director now owns 6,697 shares of the company’s stock, valued at approximately $1,732,982.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Accenture news, insider James O. Etheredge sold 1,790 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $259.75, for a total transaction of $464,952.50. Following the completion of the sale, the insider now directly owns 17,127 shares in the company, valued at approximately $4,448,738.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paula A. Price sold 750 shares of the business’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $258.77, for a total value of $194,077.50. Following the sale, the director now owns 6,697 shares of the company’s stock, valued at $1,732,982.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,015 shares of company stock valued at $10,884,179. 0.08% of the stock is owned by insiders.

Accenture Stock Performance

Shares of NYSE:ACN opened at $250.00 on Friday. Accenture plc has a fifty-two week low of $242.80 and a fifty-two week high of $345.30. The business has a 50-day simple moving average of $273.70 and a two-hundred day simple moving average of $275.04. The firm has a market cap of $157.56 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25.

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

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.