Investment House LLC Has $32.58 Million Stock Position in Accenture plc (NYSE:ACN)

Investment House LLC lowered its position in shares of Accenture plc (NYSE:ACN) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 92,607 shares of the information technology services provider’s stock after selling 770 shares during the period. Accenture makes up 1.8% of Investment House LLC’s portfolio, making the stock its 13th largest position. Investment House LLC’s holdings in Accenture were worth $32,578,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its holdings in shares of 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 buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the 3rd quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $30,000. Finally, POM Investment Strategies LLC boosted its holdings in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Performance

Shares of ACN stock opened at $324.21 on Wednesday. The business’s 50-day moving average price is $361.86 and its 200-day moving average price is $358.02. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm has a market capitalization of $202.89 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. 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 announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period last year, the firm posted $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Analyst Ratings Changes

ACN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a research note on Monday. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. increased their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $385.65.

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.