Asahi Life Asset Management CO. LTD. Decreases Position in Accenture plc (NYSE:ACN)

Asahi Life Asset Management CO. LTD. lowered its holdings in Accenture plc (NYSE:ACN) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,179 shares of the information technology services provider’s stock after selling 145 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Accenture were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new position in Accenture in the third quarter valued at about $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in 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 during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Accenture in the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter valued at about $30,000. Finally, 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 last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird restated a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Down 2.4 %

ACN opened at $348.28 on Friday. The stock’s 50 day moving average price is $367.28 and its 200 day moving average price is $357.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $217.95 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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 firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $3.27 EPS. As a group, research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction 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 directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by corporate 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.