Mattern Capital Management LLC Raises Stock Holdings in Accenture plc (NYSE:ACN)

Mattern Capital Management LLC boosted its holdings in Accenture plc (NYSE:ACN) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,673 shares of the information technology services provider’s stock after purchasing an additional 637 shares during the period. Accenture comprises 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 19th largest position. Mattern Capital Management LLC’s holdings in Accenture were worth $10,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACN. Swedbank AB raised 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 valued at $901,967,000 after buying an additional 363,401 shares in the last quarter. McAdam LLC raised its position in shares of Accenture by 8.5% during the 3rd quarter. McAdam LLC now owns 1,248 shares of the information technology services provider’s stock worth $441,000 after purchasing an additional 98 shares during the period. International Assets Investment Management LLC raised its position in shares of Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after purchasing an additional 509,011 shares during the period. Spectrum Asset Management Inc. NB CA raised its position in shares of Accenture by 1.6% during the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 11,871 shares of the information technology services provider’s stock worth $4,196,000 after purchasing an additional 192 shares during the period. Finally, YHB Investment Advisors Inc. raised its position in shares of Accenture by 9.9% during the 3rd quarter. YHB Investment Advisors Inc. now owns 8,500 shares of the information technology services provider’s stock worth $3,005,000 after purchasing an additional 765 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % 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 in the last three months. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 1.3 %

Shares of ACN opened at $385.06 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-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 firm has a market capitalization of $240.97 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 3.44 and a beta of 1.24. The stock’s 50-day moving average price is $367.37 and its 200 day moving average price is $355.77.

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

Analysts Set New Price Targets

ACN has been the topic of several analyst reports. UBS Group raised their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. BNP Paribas lowered 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. JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

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.