PGGM Investments Buys 20,068 Shares of Accenture plc (NYSE:ACN)

PGGM Investments raised its position in shares of Accenture plc (NYSE:ACN - Free Report) by 131.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,306 shares of the information technology services provider's stock after acquiring an additional 20,068 shares during the quarter. PGGM Investments' holdings in Accenture were worth $12,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA grew its stake in Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider's stock worth $22,314,000 after purchasing an additional 3,883 shares during the period. Davidson Trust Co. grew its position in shares of Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock worth $812,000 after buying an additional 158 shares during the period. Schrum Private Wealth Management LLC increased its stake in shares of Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider's stock worth $4,047,000 after acquiring an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new position in Accenture during the 3rd quarter valued at about $1,040,000. Finally, Franklin Street Advisors Inc. NC grew its holdings in Accenture by 126.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider's stock worth $14,090,000 after purchasing an additional 22,391 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research raised Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Robert W. Baird restated a "neutral" rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. The Goldman Sachs Group upgraded shares of Accenture from a "neutral" rating to a "buy" rating and upped their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, 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 research note on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Accenture has a consensus rating of "Moderate Buy" and an average price target of $388.96.

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Accenture Price Performance

NYSE ACN opened at $324.25 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $202.91 billion, a P/E ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. The company has a 50-day moving average price of $364.36 and a 200-day moving average price of $358.39. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

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 for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period last year, the firm earned $3.27 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling 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 transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the 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 sale, the chief accounting officer now owns 9,247 shares of the company's stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. Company 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.

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