Mattern Capital Management LLC Has $10.09 Million Stock Holdings in Accenture plc (NYSE:ACN)

Mattern Capital Management LLC grew its stake in Accenture plc (NYSE:ACN) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,673 shares of the information technology services provider’s stock after buying an additional 637 shares during the period. Accenture makes up about 1.3% of Mattern Capital Management LLC’s holdings, making the stock its 19th biggest holding. Mattern Capital Management LLC’s holdings in Accenture were worth $10,087,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ACN. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC increased its position in shares of Accenture by 64.2% in 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. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the 4th quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Robert W. Baird reiterated a “neutral” rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. UBS Group increased 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. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Performance

Shares of NYSE:ACN opened at $385.06 on Friday. The company’s 50 day simple moving average is $367.37 and its 200 day simple moving average is $355.77. The stock has a market capitalization of $240.97 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. 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 plc has a 1 year low of $278.69 and a 1 year high of $398.35.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.27 earnings per share. As a group, research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

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