Zevin Asset Management LLC Increases Holdings in Accenture plc (NYSE:ACN)

Zevin Asset Management LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,061 shares of the information technology services provider’s stock after buying an additional 1,529 shares during the quarter. Accenture accounts for approximately 1.8% of Zevin Asset Management LLC’s holdings, making the stock its 25th biggest holding. Zevin Asset Management LLC’s holdings in Accenture were worth $12,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after purchasing an additional 4,345,039 shares during the last quarter. Raymond James Financial Inc. bought a new position in Accenture during the 4th quarter valued at about $666,495,000. Swedbank AB grew its holdings in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Accenture by 51,837.3% during the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after purchasing an additional 858,944 shares during the last quarter. Finally, Amundi grew its stake in Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after acquiring an additional 826,038 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction 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. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ACN. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.52.

Accenture Stock Up 0.4 %

NYSE:ACN opened at $318.28 on Friday. The firm has a market capitalization 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 1-year low of $278.69 and a 1-year high of $398.35. The company’s fifty day moving average price is $363.01 and its 200-day moving average price is $357.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last released its quarterly earnings data 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.27 earnings per share. As a group, equities research analysts anticipate 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.