Accenture plc (NYSE:ACN) is Asset Advisors Investment Management LLC’s 10th Largest Position

Asset Advisors Investment Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,684 shares of the information technology services provider’s stock after selling 1,160 shares during the period. Accenture comprises approximately 2.7% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 10th biggest holding. Asset Advisors Investment Management LLC’s holdings in Accenture were worth $25,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ACN. Morse Asset Management Inc purchased a new stake in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the third quarter worth about $30,000. POM Investment Strategies LLC boosted its stake in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler increased their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a 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. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Morgan Stanley boosted their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group raised 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. Eight equities research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction that occurred 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 sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. 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.

Accenture Stock Performance

Shares of NYSE ACN opened at $364.35 on Monday. The stock has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24. The stock’s 50-day moving average is $367.48 and its 200 day moving average is $356.65. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings results 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. 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 analyst estimates of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Accenture plc will post 12.73 EPS 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.