Victory Capital Management Inc. Has $119.81 Million Stock Position in Accenture plc (NYSE:ACN)

Victory Capital Management Inc. decreased its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,563 shares of the information technology services provider's stock after selling 35,382 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Accenture worth $119,807,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at about $25,000. FPC Investment Advisory Inc. increased its holdings in shares of 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 acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the 3rd quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter worth approximately $30,000. Finally, POM Investment Strategies LLC grew its holdings in Accenture by 64.2% during 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. Institutional investors own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACN shares. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Wolfe Research upgraded shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Robert W. Baird reissued a "neutral" rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. UBS Group raised their target price on Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Morgan Stanley upped their price target on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $388.96.

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Insider Activity

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company's stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 375 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate insiders.

Accenture Price Performance

ACN stock traded down $0.16 during trading on Friday, hitting $341.68. 4,459,862 shares of the stock traded hands, compared to its average volume of 2,708,053. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $213.82 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a 50 day simple moving average of $365.74 and a 200 day simple moving average of $358.46.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the business earned $3.27 EPS. Accenture's revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture 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.