Ipswich Investment Management Co. Inc. Sells 139 Shares of Accenture plc (NYSE:ACN)

Ipswich Investment Management Co. Inc. reduced its position in shares of Accenture plc (NYSE:ACN) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,844 shares of the information technology services provider’s stock after selling 139 shares during the period. Accenture comprises about 2.0% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 12th largest holding. Ipswich Investment Management Co. Inc.’s holdings in Accenture were worth $8,388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACN. Hudson Edge Investment Partners Inc. increased its stake in Accenture by 7.1% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 17,434 shares of the information technology services provider’s stock valued at $6,133,000 after purchasing an additional 1,160 shares in the last quarter. Dahring Cusmano LLC bought a new stake in shares of Accenture during the fourth quarter worth about $283,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Accenture in the 4th quarter worth about $74,000. Bradley Foster & Sargent Inc. CT lifted its position in Accenture by 36.1% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 46,822 shares of the information technology services provider’s stock valued at $16,472,000 after acquiring an additional 12,417 shares in the last quarter. Finally, Cordatus Wealth Management LLC increased its holdings in Accenture by 1.1% during the 4th quarter. Cordatus Wealth Management LLC now owns 9,931 shares of the information technology services provider’s stock worth $3,493,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $364.35 on Friday. 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 plc has a one year low of $278.69 and a one year high of $398.35. The firm has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. The business has a fifty day moving average price of $367.48 and a 200-day moving average price of $356.12.

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, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the firm earned $3.27 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. BMO Capital Markets increased their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus target price 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.