Frank Rimerman Advisors LLC Raises Holdings in Accenture plc (NYSE:ACN)

Frank Rimerman Advisors LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,575 shares of the information technology services provider’s stock after buying an additional 83 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Accenture were worth $4,776,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $1,941,219,000 after purchasing an additional 4,345,039 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Accenture in the fourth quarter worth $666,495,000. Swedbank AB grew its holdings in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $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% in the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after purchasing an additional 858,944 shares during the last quarter. Finally, Amundi grew its holdings in Accenture by 27.9% in the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after purchasing an additional 826,038 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’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 sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture Stock Up 0.4 %

ACN opened at $318.28 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $363.01 and a 200 day moving average price of $357.97. The company has a market cap of $199.17 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings results 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACN has been the topic of a number of research analyst reports. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group dropped their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler decreased their target price on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $387.52.

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.