Mainstream Capital Management LLC Buys Shares of 207 Accenture plc (NYSE:ACN)

Mainstream Capital Management LLC bought a new stake in Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 207 shares of the information technology services provider’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ACN. Swedbank AB boosted its position in shares of 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 during the period. Pure Financial Advisors LLC boosted its position in shares of Accenture by 1.7% during the third quarter. Pure Financial Advisors LLC now owns 1,931 shares of the information technology services provider’s stock worth $683,000 after buying an additional 33 shares during the period. Van ECK Associates Corp lifted its position in Accenture by 8.7% in the third quarter. Van ECK Associates Corp now owns 144,230 shares of the information technology services provider’s stock worth $53,456,000 after purchasing an additional 11,529 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Accenture by 3.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 443,254 shares of the information technology services provider’s stock worth $156,681,000 after purchasing an additional 16,261 shares during the period. Finally, Donaldson Capital Management LLC lifted its position in Accenture by 1.3% in the third quarter. Donaldson Capital Management LLC now owns 247,565 shares of the information technology services provider’s stock worth $87,509,000 after purchasing an additional 3,154 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of the 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 sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last three months. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research reports. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. BMO Capital Markets upped their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Morgan Stanley upped their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, UBS Group upped their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Performance

NYSE ACN opened at $344.57 on Tuesday. The firm has a market cap of $215.63 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 3.23 and a beta of 1.24. The company has a 50 day moving average of $366.99 and a 200-day moving average of $358.24. 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 released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. Accenture’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.