Hudson Edge Investment Partners Inc. Acquires 1,160 Shares of Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Hudson Edge Investment Partners Inc. lifted its stake in Accenture plc (NYSE:ACN – Free Report) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,434 shares of the information technology services provider’s stock after acquiring an additional 1,160 shares during the period. Accenture makes up 1.1% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 29th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Accenture were worth $6,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after purchasing an additional 4,345,039 shares during the period. Swedbank AB increased its stake in Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Assenagon Asset Management S.A. raised its holdings in Accenture by 2,666.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after acquiring an additional 689,366 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Accenture in the 3rd quarter worth approximately $204,895,000. Finally, International Assets Investment Management LLC increased its position in shares of Accenture by 37,788.5% during the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACN. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. BMO Capital Markets upped their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a report on Wednesday, January 8th. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $387.22.

View Our Latest Report on ACN

Insiders Place Their Bets

In other news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at $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 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 5.3 %

ACN stock opened at $364.35 on Friday. The business has a fifty day moving average of $367.48 and a 200-day moving average of $356.12. The company has a market cap of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN – Get Free Report) last released its 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the prior year, the company posted $3.27 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 12.73 EPS for the current year.

About Accenture

(Free Report)

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.

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