Fisher Asset Management LLC Purchases 2,224 Shares of Accenture plc (NYSE:ACN)

Fisher Asset Management LLC raised its position in shares of Accenture plc (NYSE:ACN) by 81.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,955 shares of the information technology services provider’s stock after acquiring an additional 2,224 shares during the period. Fisher Asset Management LLC’s holdings in Accenture were worth $1,743,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ACN. Morse Asset Management Inc bought a new stake in shares of Accenture during the 3rd quarter worth $25,000. FPC Investment Advisory Inc. raised its stake in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% in 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 in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group dropped their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction 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 $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Accenture Trading Up 0.7 %

Shares of ACN stock opened at $348.27 on Thursday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day simple moving average of $366.41 and a two-hundred day simple moving average of $358.30. The company has a market cap of $217.94 billion, a P/E ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.27 EPS. Research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

About Accenture

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.