Accenture plc (NYSE:ACN) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC raised its position in Accenture plc (NYSE:ACN) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,663 shares of the information technology services provider’s stock after acquiring an additional 464 shares during the quarter. Metis Global Partners LLC’s holdings in Accenture were worth $13,249,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in Accenture during the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. grew its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture during the third quarter worth $30,000. POM Investment Strategies LLC boosted its holdings 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 purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter worth $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of several recent research reports. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Piper Sandler boosted their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Robert W. Baird restated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Price Performance

Shares of NYSE:ACN opened at $348.28 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a 50-day simple moving average of $367.28 and a 200-day simple moving average of $357.56. The stock has a market capitalization of $217.95 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the prior year, the business earned $3.27 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. This trade represents a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last three months. Insiders own 0.02% of the company’s stock.

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.