Frank Rimerman Advisors LLC Purchases 83 Shares of Accenture plc (NYSE:ACN)

Frank Rimerman Advisors LLC grew its position in shares of Accenture plc (NYSE:ACN) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC lifted its holdings in shares of Accenture by 1,014.8% during the 4th quarter. Clearstead Trust LLC now owns 3,021 shares of the information technology services provider’s stock valued at $1,063,000 after buying an additional 2,750 shares during the period. Copperwynd Financial LLC lifted its holdings in shares of Accenture by 5.9% during the 4th quarter. Copperwynd Financial LLC now owns 3,031 shares of the information technology services provider’s stock valued at $1,066,000 after buying an additional 170 shares during the period. Catalyst Funds Management Pty Ltd lifted its holdings in shares of Accenture by 237.5% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 5,400 shares of the information technology services provider’s stock valued at $1,900,000 after buying an additional 3,800 shares during the period. Zevin Asset Management LLC raised its holdings in Accenture by 4.6% in the 4th quarter. Zevin Asset Management LLC now owns 35,061 shares of the information technology services provider’s stock worth $12,334,000 after purchasing an additional 1,529 shares during the period. Finally, Hills Bank & Trust Co raised its holdings in Accenture by 43.8% in the 4th quarter. Hills Bank & Trust Co now owns 3,255 shares of the information technology services provider’s stock worth $1,145,000 after purchasing an additional 991 shares during the period. 75.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ACN. Piper Sandler decreased their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a report on Friday. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

Accenture Trading Up 0.4 %

ACN opened at $318.28 on Friday. The firm has a market cap of $199.17 billion, a P/E ratio of 26.70, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month 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 stock has a 50-day moving average of $363.01 and a 200 day moving average of $357.97.

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

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following 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 disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 over the last 90 days. Insiders own 0.02% of the company’s stock.

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.