Patten Group Inc. Acquires 76 Shares of Accenture plc (NYSE:ACN)

Patten Group Inc. raised its holdings in Accenture plc (NYSE:ACN) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,772 shares of the information technology services provider’s stock after buying an additional 76 shares during the quarter. Patten Group Inc.’s holdings in Accenture were worth $1,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morse Asset Management Inc bought a new stake in Accenture during the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its position in shares of 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 purchasing an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the third quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture in the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC boosted its holdings in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

NYSE:ACN opened at $344.57 on Tuesday. The business’s 50-day moving average is $366.99 and its 200 day moving average is $358.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $215.63 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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 business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.27 earnings per share. On average, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACN. JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Piper Sandler raised their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. UBS Group upped their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the company’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 transaction of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the firm’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 value of $134,437.50. Following the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. 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 insiders.

About Accenture

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.