Accenture plc (NYSE:ACN) Position Increased by Redmond Asset Management LLC

Redmond Asset Management LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,624 shares of the information technology services provider’s stock after buying an additional 75 shares during the period. Redmond Asset Management LLC’s holdings in Accenture were worth $1,627,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter worth approximately $30,000. POM Investment Strategies LLC boosted its stake in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Accenture in the 4th quarter worth approximately $34,000. Finally, Berbice Capital Management LLC acquired a new position in Accenture in the 4th quarter worth approximately $35,000. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. Piper Sandler raised their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Morgan Stanley increased their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

NYSE:ACN opened at $364.35 on Friday. The firm has a market cap of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $367.48 and its two-hundred day moving average price is $356.12.

Accenture (NYSE:ACN) last released its quarterly earnings results 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 firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 earnings per share. On average, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

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.