Mainstream Capital Management LLC Buys New Position in Accenture plc (NYSE:ACN)

Mainstream Capital Management LLC bought a new stake in Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 207 shares of the information technology services provider’s stock, valued at approximately $73,000.

A number of other large investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after acquiring an additional 4,345,039 shares during the period. Swedbank AB lifted its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC lifted its position in Accenture by 51,837.3% during the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after acquiring an additional 858,944 shares during the period. Assenagon Asset Management S.A. lifted its position in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after acquiring an additional 689,366 shares during the period. Finally, Holocene Advisors LP acquired a new stake in Accenture during the 3rd quarter worth approximately $204,895,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 1.1 %

Shares of NYSE ACN 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 firm has a market cap of $215.63 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 3.23 and a beta of 1.24. 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’s 50-day simple moving average is $366.99 and its 200-day simple moving average is $358.24.

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

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now directly owns 28,866 shares of the company’s stock, valued at $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $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 a total of 22,280 shares of company stock valued at $8,316,190 over the last three months. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

ACN has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley increased their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.