Edgemoor Investment Advisors Inc. Grows Stock Position in Accenture plc (NYSE:ACN)

Edgemoor Investment Advisors Inc. lifted its holdings in Accenture plc (NYSE:ACN) by 13.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,696 shares of the information technology services provider’s stock after purchasing an additional 654 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Accenture were worth $2,004,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its holdings in Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after buying an additional 28 shares during the last quarter. FPC Investment Advisory Inc. boosted 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 worth $28,000 after purchasing an additional 28 shares during the last quarter. Tradition Wealth Management LLC boosted its holdings in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the last quarter. New England Professional Planning Group Inc. boosted its holdings in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in shares of Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after purchasing an additional 30 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of ACN stock opened at $318.28 on Monday. 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 fifty day moving average price of $363.01 and a 200 day moving average price of $358.24. The company has a market cap of $199.17 billion, a P/E ratio of 26.70, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during 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%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.27 earnings per share. Sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents a 2.54 % 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 worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ACN. Jefferies Financial Group lowered their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their price target 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. Stifel Nicolaus reduced their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised shares of 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 report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.52.

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.