Edgestream Partners L.P. Acquires New Position in Accenture plc (NYSE:ACN)

Edgestream Partners L.P. bought a new position in shares of Accenture plc (NYSE:ACN) during the fourth quarter, Holdings Channel reports. The fund bought 2,896 shares of the information technology services provider’s stock, valued at approximately $1,019,000.

Other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after buying an additional 28 shares during the period. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% in 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. Tradition Wealth Management LLC raised its position in Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the period. New England Professional Planning Group Inc. grew its holdings in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after purchasing an additional 30 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

NYSE:ACN opened at $327.79 on Wednesday. The firm has a market capitalization of $205.13 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The business’s fifty day moving average price is $364.92 and its 200 day moving average price is $358.63. 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 plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data 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. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.27 EPS. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Transactions at Accenture

In other Accenture 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated 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 directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ACN. UBS Group increased their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler increased their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BMO Capital Markets boosted their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture 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.