PNC Financial Services Group Inc. lifted its stake in Accenture plc (NYSE:ACN - Free Report) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 960,293 shares of the information technology services provider's stock after purchasing an additional 26,902 shares during the period. PNC Financial Services Group Inc. owned 0.15% of Accenture worth $337,821,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in Accenture during the 3rd quarter worth $25,000. FPC Investment Advisory Inc. raised its stake 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 worth $28,000 after buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the 3rd quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Accenture during the 4th quarter worth $30,000. Finally, POM Investment Strategies LLC raised its stake 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 worth $31,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Trading Down 0.0 %
Shares of NYSE:ACN opened at $341.68 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The stock has a market cap of $213.82 billion, a PE ratio of 28.66, a P/E/G ratio of 3.23 and a beta of 1.24. The business has a 50 day moving average of $365.74 and a 200-day moving average of $358.27. 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 issued its quarterly earnings data 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.
Insider Transactions at Accenture
In other news, CAO Melissa A. Burgum sold 232 shares of the business's stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the completion of the sale, the chief executive officer now owns 28,866 shares of the company's stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last quarter. Company insiders own 0.02% of the company's stock.
Analyst Upgrades and Downgrades
ACN has been the topic of several recent research reports. StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. The Goldman Sachs Group raised Accenture from a "neutral" rating to a "buy" rating and lifted their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Morgan Stanley lifted their price target on Accenture from $335.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird reissued 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $388.96.
View Our Latest Stock Report on ACN
Accenture Company 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Accenture, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Accenture wasn't on the list.
While Accenture currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
