Patten Group Inc. Has $1.33 Million Position in Accenture plc (NYSE:ACN)

Patten Group Inc. increased its position in Accenture plc (NYSE:ACN) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,772 shares of the information technology services provider’s stock after purchasing an additional 76 shares during the quarter. Patten Group Inc.’s holdings in Accenture were worth $1,327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in Accenture during the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. raised its stake in 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 buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC lifted its holdings in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were 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 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. Over the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 1.1 %

Shares of ACN stock opened at $344.57 on Tuesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The company’s fifty day simple moving average is $366.99 and its two-hundred day simple moving average is $358.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $215.63 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced 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 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 analysts’ expectations of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and upped their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group raised their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus target price of $388.96.

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.