Choate Investment Advisors Raises Holdings in Accenture plc (NYSE:ACN)

by · The Markets Daily

Choate Investment Advisors raised its holdings in shares of Accenture plc (NYSE:ACN – Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,444 shares of the information technology services provider’s stock after purchasing an additional 1,017 shares during the period. Choate Investment Advisors’ holdings in Accenture were worth $4,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc bought a new position in Accenture during the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% during the 4th 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. bought a new position in Accenture during the 3rd quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the 4th quarter valued at approximately $30,000. Finally, POM Investment Strategies LLC raised its position in Accenture by 64.2% during the 4th 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. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In related news, 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 transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % 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 ninety days. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACN. UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $387.52.

Read Our Latest Stock Report on Accenture

Accenture Stock Performance

Shares of ACN opened at $318.28 on Friday. The business’s fifty day simple moving average is $363.01 and its two-hundred day simple moving average is $358.10. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a market cap of $199.17 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN – Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business posted $3.27 EPS. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Profile

(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.

Further Reading

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