Carret Asset Management LLC Buys 814 Shares of Accenture plc (NYSE:ACN)

Carret Asset Management LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 28.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,645 shares of the information technology services provider’s stock after acquiring an additional 814 shares during the quarter. Carret Asset Management LLC’s holdings in Accenture were worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB boosted its stake in Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares in the last quarter. Entropy Technologies LP acquired a new stake in Accenture during the third quarter worth $745,000. Harbour Investments Inc. boosted its stake in Accenture by 14.1% during the third quarter. Harbour Investments Inc. now owns 1,143 shares of the information technology services provider’s stock worth $404,000 after buying an additional 141 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in Accenture by 3.3% during the third quarter. Pinnacle Financial Partners Inc now owns 6,438 shares of the information technology services provider’s stock worth $2,276,000 after buying an additional 207 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its stake in Accenture by 65.1% during the third quarter. Cable Hill Partners LLC now owns 1,549 shares of the information technology services provider’s stock worth $548,000 after buying an additional 611 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN opened at $316.48 on Friday. The stock has a market capitalization of $198.05 billion, a P/E ratio of 26.55, a P/E/G 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 has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $363.72 and a two-hundred day moving average price of $358.10.

Accenture (NYSE:ACN) last announced 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 during 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 period in the previous year, the business posted $3.27 EPS. Equities analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity

In other news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value 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 $3,516,610.90. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the company from $370.00 to $420.00 in a research note 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 on the stock in a research note on Wednesday, January 8th. UBS Group boosted their target price 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. Finally, Piper Sandler boosted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $388.96.

About Accenture

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.