Hudson Edge Investment Partners Inc. Has $6.13 Million Holdings in Accenture plc (NYSE:ACN)

Hudson Edge Investment Partners Inc. increased its stake in shares of Accenture plc (NYSE:ACN) by 7.1% during the fourth quarter, HoldingsChannel reports. The fund owned 17,434 shares of the information technology services provider’s stock after buying an additional 1,160 shares during the period. Accenture comprises about 1.1% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 29th largest position. Hudson Edge Investment Partners Inc.’s holdings in Accenture were worth $6,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the 3rd quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its stake in 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 acquiring an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $34,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $35,000. 75.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently 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 for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Price Performance

Shares of NYSE ACN opened at $364.35 on Friday. The firm has a market cap of $228.00 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. The business’s 50 day moving average is $367.48 and its 200-day moving average is $356.12. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

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

Insider Buying and Selling at Accenture

In related 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 owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last quarter. Company insiders own 0.02% of the company’s stock.

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.