167,000 Shares in Accenture plc (NYSE:ACN) Bought by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt purchased a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 167,000 shares of the information technology services provider’s stock, valued at approximately $58,769,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB lifted its stake in Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after acquiring an additional 363,401 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Accenture by 131.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,251 shares of the information technology services provider’s stock valued at $796,000 after purchasing an additional 1,277 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Accenture by 57.2% during the third quarter. Fortitude Family Office LLC now owns 316 shares of the information technology services provider’s stock worth $112,000 after purchasing an additional 115 shares during the last quarter. Jacobsen Capital Management increased its stake in Accenture by 41.5% in the 3rd quarter. Jacobsen Capital Management now owns 935 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 274 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its position in shares of Accenture by 9.2% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,679 shares of the information technology services provider’s stock worth $594,000 after buying an additional 142 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Accenture news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last three months. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 1.3 %

ACN opened at $358.32 on Thursday. The firm has a market capitalization of $224.23 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business has a 50 day simple moving average of $367.94 and a two-hundred day simple moving average of $357.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts predict that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ACN shares. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Stifel Nicolaus lowered their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group reduced their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $388.96.

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.