Intech Investment Management LLC Buys 23,484 Shares of Accenture plc (NYSE:ACN)

Intech Investment Management LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 50.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 70,187 shares of the information technology services provider’s stock after acquiring an additional 23,484 shares during the period. Intech Investment Management LLC’s holdings in Accenture were worth $24,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baldwin Wealth Partners LLC MA increased its position in Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after purchasing an additional 3,883 shares during the period. Davidson Trust Co. boosted its holdings in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Accenture by 126.8% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after buying an additional 22,391 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after purchasing an additional 56,937 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Accenture by 37.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after purchasing an additional 843 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 2.3 %

Accenture stock opened at $326.25 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The business has a fifty day moving average of $362.51 and a two-hundred day moving average of $358.14. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $204.16 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results 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. The firm 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 firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.27 EPS. On average, analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ACN shares. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Piper Sandler dropped their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.04.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the business’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 sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last quarter. 0.02% of the stock is currently owned by company 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.