Vestmark Advisory Solutions Inc. Has $3.09 Million Position in Accenture plc (NYSE:ACN)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Accenture plc (NYSE:ACN) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,796 shares of the information technology services provider’s stock after buying an additional 694 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Accenture were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. raised its position in shares of Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the period. FPC Investment Advisory Inc. raised its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC boosted its position in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares in the last quarter. New England Professional Planning Group Inc. grew its holdings in shares of Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after buying an additional 29 shares during the period. Finally, TCW Group Inc. raised its stake in Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after buying an additional 30 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Down 2.0 %

ACN stock opened at $341.34 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The stock’s 50 day simple moving average is $366.03 and its 200 day simple moving average is $358.18. The company has a market cap of $213.61 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued 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 company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the business earned $3.27 EPS. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ACN. 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. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now directly owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

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.