Accenture plc (NYSE:ACN) Shares Bought by Freedom Day Solutions LLC

Freedom Day Solutions LLC raised its position in Accenture plc (NYSE:ACN) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,140 shares of the information technology services provider’s stock after acquiring an additional 568 shares during the period. Accenture makes up 1.1% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 19th largest holding. Freedom Day Solutions LLC’s holdings in Accenture were worth $3,567,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Accenture by 378.9% in the third 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 period. Swedbank AB lifted its stake in shares of Accenture by 47.5% in the fourth 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 period. Assenagon Asset Management S.A. lifted its stake in shares of Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after purchasing an additional 689,366 shares during the period. Holocene Advisors LP acquired a new stake in shares of Accenture in the third quarter valued at about $204,895,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Accenture by 37,788.5% in the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $390.72 on Thursday. The firm has a 50-day moving average price of $366.87 and a 200 day moving average price of $355.57. The firm has a market capitalization of $244.51 billion, a PE ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last announced 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 firm had revenue of $17.69 billion during 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%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of several recent analyst reports. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 30th. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group reduced their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.