EdgeRock Capital LLC Boosts Position in Accenture plc (NYSE:ACN)

EdgeRock Capital LLC lifted its holdings in Accenture plc (NYSE:ACN) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 716 shares of the information technology services provider’s stock after acquiring an additional 62 shares during the quarter. EdgeRock Capital LLC’s holdings in Accenture were worth $252,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last ninety days. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. UBS Group upped their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Piper Sandler raised their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Down 0.2 %

Shares of NYSE:ACN opened at $363.66 on Tuesday. The company has a market capitalization of $227.58 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The business has a 50-day moving average price of $367.61 and a 200 day moving average price of $356.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $3.27 earnings per share. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Company 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.