Accenture plc (NYSE:ACN) Stake Raised by Tredje AP fonden

Tredje AP fonden increased its holdings in Accenture plc (NYSE:ACN) by 12.5% in the 4th quarter, Holdings Channel reports. The fund owned 197,405 shares of the information technology services provider’s stock after purchasing an additional 21,870 shares during the period. Tredje AP fonden’s holdings in Accenture were worth $69,445,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted its stake in Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after acquiring an additional 28 shares in the last quarter. FPC Investment Advisory Inc. raised its stake in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares in the last quarter. Tradition Wealth Management LLC raised its stake in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares in the last quarter. New England Professional Planning Group Inc. raised its stake 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 in the last quarter. Finally, TCW Group Inc. raised its stake 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 in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of NYSE:ACN opened at $324.25 on Thursday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm has a market capitalization of $202.91 billion, a PE ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. The business’s 50 day moving average is $364.36 and its 200-day moving average is $358.39. 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 data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACN. Piper Sandler raised their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group cut their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Activity at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The stock was 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 of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

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.