Vestcor Inc Has $7.15 Million Stock Holdings in Accenture plc (NYSE:ACN)

Vestcor Inc lifted its stake in shares of Accenture plc (NYSE:ACN) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,321 shares of the information technology services provider’s stock after purchasing an additional 2,586 shares during the period. Vestcor Inc’s holdings in Accenture were worth $7,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Accenture by 378.9% during the third 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 valued at $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Accenture by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after buying an additional 140,726 shares in the last quarter. Amundi grew its holdings in shares of Accenture by 27.9% during the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after buying an additional 826,038 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after buying an additional 1,212,011 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

ACN opened at $324.25 on Thursday. The firm has a market capitalization of $202.91 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The stock’s 50 day moving average price is $364.36 and its two-hundred day moving average price is $358.39. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (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 return on equity of 26.91% and a net margin of 11.41%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 EPS. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ACN shares. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $388.96.

Insiders Place Their Bets

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

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.