Ipswich Investment Management Co. Inc. Has $8.39 Million Position in Accenture plc (NYSE:ACN)

Ipswich Investment Management Co. Inc. trimmed its position in Accenture plc (NYSE:ACN) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,844 shares of the information technology services provider’s stock after selling 139 shares during the quarter. Accenture makes up 2.0% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 12th largest position. Ipswich Investment Management Co. Inc.’s holdings in Accenture were worth $8,388,000 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 acquired a new stake in shares of Accenture during the 3rd quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new position in Accenture in the 3rd quarter valued at about $30,000. POM Investment Strategies LLC boosted its holdings in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $34,000. Finally, Berbice Capital Management LLC bought a new position in shares of Accenture during the fourth quarter worth approximately $35,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research reports. BMO Capital Markets upped their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Piper Sandler increased their target price 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. Jefferies Financial Group dropped their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $387.22.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 961 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the sale, the insider now directly owns 5,484 shares in the company, valued at approximately $1,943,913.48. This trade represents a 14.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

Shares of ACN stock opened at $364.35 on Friday. The business’s 50-day moving average price is $367.48 and its 200-day moving average price is $356.12. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. 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 firm has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 EPS. Equities research analysts forecast that Accenture plc will post 12.73 EPS for the current 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.