Intermede Investment Partners Ltd Has $84.21 Million Stake in Accenture plc (NYSE:ACN)

Intermede Investment Partners Ltd cut its stake in Accenture plc (NYSE:ACN) by 45.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 239,372 shares of the information technology services provider’s stock after selling 201,195 shares during the period. Accenture makes up 2.2% of Intermede Investment Partners Ltd’s holdings, making the stock its 25th largest position. Intermede Investment Partners Ltd’s holdings in Accenture were worth $84,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. grew its stake in shares of 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 acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the third quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% during the fourth 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 last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ACN shares. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Piper Sandler boosted their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $388.96.

Accenture Stock Down 1.1 %

ACN stock opened at $324.25 on Thursday. The business’s fifty day moving average price is $364.36 and its two-hundred day moving average price is $358.39. The stock has a market capitalization of $202.91 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. 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 (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % 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. Company insiders own 0.02% of the company’s stock.

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.