Davis R M Inc. Buys 2,528 Shares of Accenture plc (NYSE:ACN)

Davis R M Inc. raised its stake in shares of Accenture plc (NYSE:ACN) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,195 shares of the information technology services provider’s stock after acquiring an additional 2,528 shares during the period. Davis R M Inc.’s holdings in Accenture were worth $51,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vista Investment Partners II LLC bought a new position in Accenture during the 4th quarter valued at about $3,385,000. Morton Community Bank lifted its stake in Accenture by 0.8% during the 4th quarter. Morton Community Bank now owns 11,182 shares of the information technology services provider’s stock valued at $3,934,000 after acquiring an additional 94 shares during the period. Tortoise Investment Management LLC lifted its stake in Accenture by 3.5% during the 4th quarter. Tortoise Investment Management LLC now owns 1,116 shares of the information technology services provider’s stock valued at $393,000 after acquiring an additional 38 shares during the period. Independent Advisor Alliance lifted its stake in Accenture by 3.6% during the 4th quarter. Independent Advisor Alliance now owns 29,241 shares of the information technology services provider’s stock valued at $10,287,000 after acquiring an additional 1,014 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its stake in Accenture by 1.7% during the 4th quarter. Johnson Investment Counsel Inc. now owns 381,546 shares of the information technology services provider’s stock valued at $134,224,000 after acquiring an additional 6,256 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, 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 sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ACN. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group dropped their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Accenture Trading Down 2.0 %

Accenture stock opened at $335.34 on Tuesday. The stock has a market cap of $209.85 billion, a P/E ratio of 28.13, a PEG ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm’s 50 day moving average price is $365.40 and its 200-day moving average price is $358.67.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm 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 company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 earnings per share. On average, equities analysts predict that Accenture plc will post 12.73 earnings per share 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.