Impact Capital Partners LLC Purchases New Position in Accenture plc (NYSE:ACN)

Impact Capital Partners LLC acquired a new stake in Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,431 shares of the information technology services provider’s stock, valued at approximately $1,559,000.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB increased its position in shares of Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after buying an additional 363,401 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Accenture in the 3rd quarter valued at about $745,000. Harbour Investments Inc. raised its holdings in shares of Accenture by 14.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,143 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 141 shares during the period. Victory Capital Management Inc. increased its holdings in Accenture by 8.9% during the 3rd quarter. Victory Capital Management Inc. now owns 375,945 shares of the information technology services provider’s stock worth $132,889,000 after purchasing an additional 30,725 shares during the last quarter. Finally, Bancreek Capital Management LP increased its holdings in Accenture by 11.5% during the 3rd quarter. Bancreek Capital Management LP now owns 20,529 shares of the information technology services provider’s stock worth $7,257,000 after purchasing an additional 2,122 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Trading Down 1.1 %

Shares of ACN stock opened at $324.25 on Thursday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a 50 day moving average price of $364.36 and a 200 day moving average price of $358.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $202.91 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

Wall Street Analyst Weigh In

ACN has been the subject of a number of analyst reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Stifel Nicolaus lowered their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture 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 directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the chief accounting officer now 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. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last 90 days. 0.02% of the stock is owned by corporate insiders.

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.